You are opening your own wedding planning business and are conducting some market research. According to The Knot Real Weddings Study, the average cost of a wedding in the U.S. is $35,000. You are skeptical about whether these numbers apply to the Piedmont Triad area—your target market—and so you decide to conduct your own survey. After randomly sampling 40 recently married couples, you find an average cost of $32,000 with a standard deviation of $10,000. 1. What is the point estimate of the mean wedding cost for the Piedmont Triad? 2. Find the standard error of the mean. 3. Find the critical value. (You’ll need to decide whether to use a z-score or a t-score.)

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