MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Transcribed Image Text:**Transcription of Image for Educational Purposes**
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A wedding website states that the average cost of a wedding is $25,776. One concerned bride hopes that the average is less than reported. To see if her hope is correct, she surveys 32 recently married couples and finds that the average cost of weddings in the sample was $24,677. Assuming that the population standard deviation is $4286, is there sufficient evidence to support the bride’s hope at the 0.05 level of significance?
**Step 3 of 3: Draw a conclusion and interpret the decision.**
**Answer:**
- ○ We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the bride’s hope that the mean cost of a wedding is less than $25,776.
- ○ We reject the null hypothesis and conclude that there is sufficient evidence to support the bride’s hope that the mean cost of a wedding is less than $25,776.
- ○ We reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the bride’s hope that the mean cost of a wedding is less than $25,776.
- ○ We fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the bride’s hope that the mean cost of a wedding is less than $25,776.
**Graph or Diagram Explanation:**
There is no graph or diagram present in the image.
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This transcription and explanation aim to assist users in understanding the statistical hypothesis testing process related to wedding cost analysis, presented on an educational website.
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