Question

According to a bridal magazine, the average cost of a wedding reception for an American wedding is $8213. Assume that the average is based on a random sample of 450 weddings and that the standard deviation is $2185.a. What is the point estimate of the corresponding population mean

Answer 1

Point estimate of the corresponding population mean = $8,213

Explanation:

Given:

Average cost of a wedding reception (x) = $8,213

Total number of sample (n) = 450

Standard deviation = $2185

Find:

Point estimate of the corresponding population mean

Computation:

Average cost of a wedding reception (x) = Point estimate of the corresponding population mean

Point estimate of the corresponding population mean = $8,213