Many couples believe that it is getting too expensive to host an “average” weddi

Question

Many couples believe that it is getting too expensive to host an “average” wedding in the United States. According to a statistics study in the U.S., the average cost of a wedding in the U.S. in 2014 was $25,200. Recently, in a random sample of 35 weddings in the U.S. it was found that the average cost of a wedding was $24,224 with a standard deviation of $2,210. Which method should be used for finding a 95% margin of error for the sample mean for this example?

Find the critical z value for the given level of confidence and multiply by the standard error using the formula z/n

Find the critical t value for the given level of confidence and multiply by the standard error using the formula s/n

Find the critical z value for the given level of confidence and multiply by the standard error using the formula s/n

Find the critical t value for the given level of confidence and multiply by the standard error using the formula /n.

Explanation / Answer

Here we don't know the population standard deviation. So, t distribution will be use here.

Option-B) Find the critical t value for the given level of confidence and multiply by the standard error using the formula s/n

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