Answer:
We conclude that the mean wedding cost is less than $30,000 as advertised.
Step-by-step explanation:
We are given the following data set:(in thousands)
29100, 28500, 28800, 29400, 29800, 29800, 30100, 30600
Formula:
 
  
where  are data points,
 are data points,  is the mean and n is the number of observations.
 is the mean and n is the number of observations.  


Sum of squares of differences = 3408750

Population mean, μ = $30,000
Sample mean,  = $29512.5
 = $29512.5
Sample size, n = 8
Alpha, α = 0.05 
Sample standard deviation, s = $ 697.82
First, we design the null and the alternate hypothesis
 We use one-tailed t test to perform this hypothesis.
 We use one-tailed t test to perform this hypothesis.
Formula:
 
 
Putting all the values, we have 
 
 
Now, 
 
 
Since,                  

We fail to accept the null hypothesis and reject it.
We conclude that the mean wedding cost is less than $30,000 as advertised.