Sara’s little brother is getting ready to color the picture of a rainbow that Sara drew for him. To make the task easier for her
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Answer:
Based on the findings, we infer that the average cost of a wedding is lower than the $30,000 that was initially suggested.
Step-by-step explanation:
The following data set is provided: (in thousands)
29100, 28500, 28800, 29400, 29800, 29800, 30100, 30600
Formula:
where denotes data points,
represents the mean, and n indicates the number of samples.
The sum of squares of the differences equals 3408750
The population mean, μ = $30,000
The sample mean, = $29512.5
Sample size, n = 8
Alpha, α = 0.05
Sample standard deviation, s = $697.82
Initially, we formulate the null hypothesis and the alternative hypothesis.
A one-tailed t-test will be conducted for this analysis.
Formula:
Thus, we conclude that the average wedding cost is indeed less than the advertised $30,000.
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