The number of "destination weddings" has skyrocketed in recent years. For example, many couples are opting to have their weddings in the Caribbean. A Caribbean vacation resort recently advertised in Bride Magazine that the cost of a Caribbean wedding was less than $30,000. Listed is a total cost in $000 for a sample of eight Caribbean weddings. At the 0.05 significance level, is it reasonable conclude the mean wedding cost is less than $30,000 as advertised? 29.7 29.4 31.7 29.0 Click here for the Excel Data File Η με H₁ μ< 29.1 30.5 Answer is complete but not entirely correct. 30,000 X 30,000 29.1 Required: a. State the null hypothesis and the alternate hypothesis. Use a 0.05 level of significance. Note: Enter your answers in thousands of dollars. 29.8 Prev 8 of ‒‒‒ Next >
The number of "destination weddings" has skyrocketed in recent years. For example, many couples are opting to have their weddings in the Caribbean. A Caribbean vacation resort recently advertised in Bride Magazine that the cost of a Caribbean wedding was less than $30,000. Listed is a total cost in $000 for a sample of eight Caribbean weddings. At the 0.05 significance level, is it reasonable conclude the mean wedding cost is less than $30,000 as advertised? 29.7 29.4 31.7 29.0 Click here for the Excel Data File Η με H₁ μ< 29.1 30.5 Answer is complete but not entirely correct. 30,000 X 30,000 29.1 Required: a. State the null hypothesis and the alternate hypothesis. Use a 0.05 level of significance. Note: Enter your answers in thousands of dollars. 29.8 Prev 8 of ‒‒‒ Next >
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:The number of "destination weddings" has skyrocketed in recent years. For example, many couples are opting to have their weddings
in the Caribbean. A Caribbean vacation resort recently advertised in Bride Magazine that the cost of a Caribbean wedding was less
than $30,000. Listed is a total cost in $000 for a sample of eight Caribbean weddings. At the 0.05 significance level, is it reasonable
conclude the mean wedding cost is less than $30,000 as advertised?
29.7
29.4
31.7
29.0
Click here for the Excel Data File
Η με
H₁ μ<
29.1
30.5
Answer is complete but not entirely correct.
30,000 X
30,000
29.1
Required:
a. State the null hypothesis and the alternate hypothesis. Use a 0.05 level of significance.
Note: Enter your answers in thousands of dollars.
29.8
Prev
8 of
‒‒‒
Next >
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