Assume that Data Set 21 in Appendix B represents sample prices and characteristics of high-quality diamonds sold

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Assume that Data Set 21 in Appendix B represents sample prices and characteristics of high-quality diamonds sold at auction. A vendor claims that near - colorless diamonds sell at a higher price than yellower ones. Based on the data summarized in the margin (from Data Set 21, with colours 5-9 interpreted as "More Yellow"), use a 0.05 level of significance to test the vendor's claim. Assume unequal variances for the two groups. Should a buyer for the auction house avoid buying the yellower diamonds? Is more information needed to answer that question? Explain.
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Elementary Statistics

ISBN: 9780321225979

3rd Canadian Edition

Authors: Mario F. Triola

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