The XO Group Inc., released the results of its annual Real Weddings Study on March 27, 2014
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The XO Group Inc., released the results of its annual Real Weddings Study on March 27, 2014 (www.theknot.com). According to this study, the average cost of a wedding in America was $29,858 in 2013. A recent sample of 100 American couples who got married this year produced a mean wedding cost of $32,084 with a standard deviation of $9275. Using a 2.5% significance level and the criticalvalue approach, can you conclude that the current mean cost of a wedding in America is higher than $29,858? Find the range for the p-value for this test. What will your conclusion be using this p-value range and α = .05?
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