A wedding website states that the average cost of a wedding is $25,549. One concerned bride hopes that the average is less than reported. To see if her hope is correct, she surveys 60 recently married couples and finds that the average cost of weddings in the sample was $24,342. Assuming that the population standard deviation is $5054, is there sufficient evidence to support the bride’s hope at the 0.01 level of significance?
Step 2 of 3 : Compute the value of the test statistic. Round your answer to two decimal places.
