The number of "destination weddings" has skyrocketed in recent years. For example, 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 $30,000. Listed is a total cost in $000 for a sample of eight Caribbean weddings. At the 0.01 significance level, is it reasonable to conclude the mean wedding cost is less than $30,000 as advertised? 28.6 28.5 30.1 31.4 28.9 29.6 31.6 29.2
a. State the null hypothesis and the alternate hypothesis. Use a 0.01 level of significance. (Enter your answers in thousands of dollars.)

b. State the decision rule for 0.01 significance level. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

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

d. What is the conclusion regarding the null hypothesis?