The cost of a wedding 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 that the cost of a Caribbean wedding was less than $10 000. Listed below is the total cost (in $ thousands) for a sample of eight Caribbean weddings:

$9.8

$9.7

$10.4

$9.9

$9.6

$9.5

$10.5

$9.8

a. State the null hypothesis and the alternate hypothesis. (Enter the final answers in thousands of dollars.)

H₀: $

H₁: < $

b. State the decision rule for 0.05 significance level. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.)

Reject H₀ if t < .

c. Compute the value of the test statistic. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.)

Value of the test statistic

d. At the 0.05 significance level, is it reasonable to conclude the mean wedding cost is less than $10 000 as advertised?

(Click to select) Reject Do not reject H₀. There is (Click to select) enough not enough evidence to conclude that the cost is less than $10 000.