The cost of a one-carat VS2 clarity, H color diamond from Diamond Source USA is $5600. A Midwestern jeweler makes calls to contacts in the diamond district of New York City to see whether the mean price of diamonds there differs from $5600.a. Formulate hypotheses that can be used to determine whether the mean price in New York City differs from $5600.b. A sample of 25 New York City contacts provided the prices shown in the attached file named diamonds. What is the p-value?c. at a = .05, can the null hypothesis be rejected? What is your conclusion?d. Repeat the preceding hypothesis test using the critical value approach.
Originally posted 2018-07-15 01:53:17. Republished by Blog Post Promoter