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The number of "destination weddings" has skyrocketed in recent years. For example, many couples are opting to have their weddings in the Caribbean.

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 below is a total cost in $000 for a sample of 8 Caribbean weddings. At the 0.05 significance level, is it reasonable to conclude the mean wedding cost is less than $30,000 as advertised?

 

        31.730.531.428.629.229.429.628.5

 

  1. State the null hypothesis and the alternate hypothesis. Use a 0.05 level of significance. (Enter your answers in thousands of dollars.)

 



  1. 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.)

 



  1. Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

 



  1. What is the conclusion regarding the null hypothesis?

 

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