Answered: an reported. To see if her hope is…

Name: A wedding website states that the average cost of a wedding is $25,549
Uploaded: 2024-03-05T11:52:21.000Z
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Description: A wedding website states that the average cost of a wedding is $25,549. One concerned bride hopes that the average is less than reported. To see if her hope is correct, she surveys 60 recently married couples and finds that the average cost of weddin

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A wedding website states that the average cost of a wedding is $25,549. One concerned bride hopes that the average is less than reported. To see if her hope is correct, she surveys 60 recently married couples and finds that the average cost of weddings in the sample was $24,342. Assuming that the population standard deviation is $5054, is there sufficient evidence to support the bride’s hope at the 0.01 level of significance?

Step 3 of 3: Draw a conclusion and interpret the decision.

1. We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.01 level of significance to support the brides's hope that the mean of the cost of a wedding businesses is less than $25,549.

2. . We fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.01 level of significance to support the brides's hope that the mean of the cost of a wedding businesses is less than $25,549.

3. We reject the null hypothesis and conclude that there is insufficient evidence at a 0.01 level of significance to support the brides's hope that the mean of the cost of a wedding businesses is less than $25,549.

4. We reject the null hypothesis and conclude that there is sufficient evidence at a 0.01 level of significance to support the brides's hope that the mean of the cost of a wedding businesses is less than $25,549.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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