Conclude the mean wedding cost is less than as advertised

Assignment Help Econometrics
Reference no: EM13214099

The cost of weddings in the United States has skyrocketed in recent years. As a result 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 $10,000. Listed below is a total cost in $000 for a sample of 8 Caribbean weddings. At the .05 significance level is it reasonable to conclude the mean wedding cost is less than $10,000 as advertised?

Reference no: EM13214099

Questions Cloud

Explain what is the value of kf for acetic acid : What is the value of Kf for acetic acid, given that its freezing temperature is 16.6 C and its density is 1.049 g/mL?
Desire an annual real rate of return : What nominal rate of interest would have to be offered on a one-year Treasury security for you to consider making an investment?
Genetic predispositions-culturally learned preferences : An integrated understanding of associative learning in terms of genetic predispositions, culturally learned preferences, and the predictability of certain associations is most clearly provided by:
Explain the equilibrium constant kp for the reaction : The equilibrium constant, Kp, for the following reaction is 9.4 at 500.0 degrees C. A mixture in a container at this temperature has a total pressure of 2.0 atm. The molar percent of N2O4 is 12.0% and NO2 is 88.0%.
Conclude the mean wedding cost is less than as advertised : The cost of weddings in the United States has skyrocketed in recent years. As a result 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 ..
Average annual precipitation : The average annual precipitation for the four sub basins constituting a large river basin is 73,85,112,101cm. The areas are 930,710,and 1680km square respectively. What is the average annual precipitation for the basin as a whole?
How much carpet must be re-manufactured annually : Each year in the United States nearly 5 billion pounds of discarded carpet end up in land fills. In response to this situation, the carpet manufacturer has decided to start a take-back program whereby obsolete carpet is reclaimed at the end of its..
Gender differences it is helpful to remember : In considering gender differences it is helpful to remember
Define a household lightbulb is a blackbody radiator : A household lightbulb is a blackbody radiator. Many light bulbs use tungsten filaments that are heated by electric current. What temperature is needed so that ?max=550nm?

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd