User Account

All Pages

A singapore edition of business times

Assignment Help Basic Statistics
Reference no: EM13496131

In a Singapore Edition of Business Times, diamond pricing we explored. The price of a diamond is based on the diamond's weight, color, and clarity. A Simple random sample of 18 one-half-carat diamonds had the following prices, in dollar's:

1676 1442 1995 1718 1826 2071 1947 1983 2146
1995 1876 2032 1988 2071 2234 2108 1941 2316

Based on the above information, solve the following problems:

a. Apply the t-interval procedure to these data to find a 90% confidence interval for the mean price of all one-half-carat diamonds. Interpret your result. (Note: X-bar = $1964.7 and s = $206.5.)

b. Based on your graphs from part (b), is it reasonable to apply the t-interval procedure as you did in part a? Explain your answer.

Reference no: EM13496131

Questions Cloud

Homes have both a garage and a swimming pool : Suppose that 20% of the homes in a neighborhood has a swimming pool in their backyards and 50% has a garage. 15% of homes have both a garage and a swimming pool.
Promote anti-american propaganda : A Russian SVR agent has 45 million dollars which he can spend to bribe academics, politicians, and bloggers to spread disinformation and to promote anti-American propaganda
Calculate a 95% confidence interval : Calculate a 95% Confidence Interval
Mama stuffin is a popular food item during the fall : Mama's Stuffin' is a popular food item during the fall and winter months, but it is marginal in the spring and summer. Use the following demand forecasts and costs to determine which of the following production planning strategies is best for M..
A singapore edition of business times : In a Singapore Edition of Business Times, diamond pricing we explored. The price of a diamond is based on the diamond's weight, color, and clarity. A Simple random sample of 18 one-half-carat diamonds had the following prices, in dollar's
What is the volatility standard deviation of an equally : What is the volatility (standard deviation) of an equally weighted portfolio of stocks within an industry in which the stocks have a volatility of 50% and a correlation of 40% as the portfolio becomes arbitrarily large?
How many 3-level latin squares are possible : How many 3-level Latin Squares are possible? {A "different" Latin Square in this case is one that does not have the same exact set of 9 treatment combinations as another set of 9.} Provide proof (or, at least "support") for your answer.
Defines the boundary of the reject region : 1) The alternative hypothesis is a
The standard deviation of the mean weight : A government worker claims that the standard deviation of the mean weight of all US Postal Service shipments is 0.40 pounds. If a hypothesis test is performed, how should you interpret a decision

Reviews

Write a Review

Basic Statistics Questions & Answers

  State the null hypothesis-alternate hypothesis

It is suspected that the mean turnover has changed and is not 6.0. Use the .05 significance level. State the null hypothesis and the alternate hypothesis.

  Probability of getting four hits in a particular game

Joe Mauer of the Minnesota Twins had the highest batting average in the 2009 Major League Baseball season. His average was .461. So assume the probability of getting a hit is .461 for each time he batted. In a particular game, assume he batted fou..

  1 you work at a bank and are asked to recommend the amount

1. you work at a bank and are asked to recommend the amount of cash to put in an atm each day. you dont want to put in

  Following normal distribution with mean-standard deviation

Diastolic blood pressure are assumed to follow a normal distribution with a mean of 85 and a standard deviation of 12.

  Find minimum sample size required to estimate population

Use the given date to find the minimum sample size required to estimate a population proportion and populat mean. Margin of error: 0.004, confidence level, 90%, sample proportion (p) : = 0.45

  Determining evidence of difference in median performance

Is there evidence of difference in median performance between two methods? (Use α = 0.05.)

  Sample sufficient to demonstrate a significant effect

If the population standard deviation is s = 10, is the sample sufficient to demonstrate a significant effect? Again, assume a two-tailed test with a = 0.05.

  Use the interaction plot to argue about new design

Use the interaction plot to argue that the new design is less sensitive to changes in environmental conditions (temperature and humidity). What limitations apply to this argument?

  Hypothesis-tests and errors

With each hypothesis, indicate whether the appropriate analysis would be a one-tailed test or a two-tailed test and indicate a type I and type II error, given the context of the hypothesis.

  Find the probability that starting salary will be high

Standard deviation of Rs. 1000. assuming the starting salaries follow a normal distribution: What is the probability that the starting salary will be more than Rs. 12000.

  Create a stem-and leaf display for the data set

Construct a stem-and leaf display for the data set? Construct a box plot for the data set? Draw conclusions about the data (e.g. are there any outliers, etc, etc.).

  Set up a model to test whether there are differences in mean

Set up a model to test whether there are differences in mean ... DATA SET E Ages and Weights of 31 Randomly Chosen U.S. Nickels (n = 31 nickels) Nickels

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd