Many couples believe that it is getting too expensive to host an \"average weddi

Question

Many couples believe that it is getting too expensive to host an "average wedding in the United States According to the website www.costofwedding.com, the average cost of a wedding the use in 2009 was s24o66. Recently, in a random in sample of 20 weddings in the US it was found t the average cost of a wedding was $23.224, with a standard deviation of $2.903. Test the claim that the average cost of a wedding has decreased since 2009. State the null hypothesis and the conclusion for significance level a 0.05. H_0: mu = $24, 066. Reject H_0 H_0: mu = $24.066, Do not reject H_0 H_0 mu = $23.224, Reject H_0 H_0 mu = $23.224, Do not reject H_0

Explanation / Answer

Ho: µ=>$24066

H1: µ<$24066

tSTAT=X-µ/S/sqrt(n)

        =23244-24066/2903/sqrt(20)

        =-3676.09/2903

        =-1.26

at a=0.05, the critical value would be -1.645 (because it is a lower tailed test). Since -1.26 is greater than -1.645, it does not lie in the rejection region. Hence do not reject null hypothesis.

Hence, the correct answer would be B (Ho: µ=$24066; Do not reject H0)

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