Chapter 8.1, Problem 17E

Wedding Costs. According to Bride’s Magazine, getting married these days can be expensive when the costs of the reception, engagement ring, bridal gown, pictures—just to name a few—are included. A simple random sample of 20 recent U.S. weddings yielded the following data on wedding costs, in dollars.

1. a. Use the data to obtain a point estimate for the population mean wedding cost, μ, of all recent U.S. weddings. (Note: The sum of the data is $526,538.)
2. b. Is your point estimate in part (a) likely to equal μ exactly? Explain your answer.