-LEAVE ANSWERS OUT TO FOUR DECIMAL PLACES 1. Suppose we are interested in analyzing average cost of a wedding.We know that on average, weddings cost $30,350 with a population standard deviation of...


-LEAVE ANSWERS OUT TO FOUR DECIMAL PLACES


1. Suppose we are interested in analyzing average cost of a wedding.We know that on average, weddings cost $30,350 with a population standard deviation of $6650. Suppose we take a sample of 25weddings and we find that the average wedding cost is $33,900. We are interested in seeing if the average wedding cost is increasing.


g. Calculate the test statistic (using the sample of 25 and NOT the answer from part d).

h. Find the p-value.

i. What conclusion would be made here at the 90% confidence level?


Jun 03, 2022
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