Answer Happy

Exercise 10-41 (Algo) (LO10-6) 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 to conclude the mean wedding cost is less than $30,000 as advertised? 30.3 28.7 29.5 28.8 28.7 31.8 29.5 29.0
a. State the null hypothesis and the alternate hypothesis. Use a 0.05 level of significance. (Enter your answers in thousands of dollars.) Houz H₁: p< b. State the decision rule for 0.05 significance level. (Negative amount should be Indicated by a minus sign. Round your answer to 3 decimal places.) Rejoct Ho ift< c. Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.) Value of the test statistic C
d. What is the conclusion regarding the null hypothesis? Ho. The cost is than $30,000.