In a Singapore edition of Business Times, diamond pricing was explored. The price of a diamond is
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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. (x = $1964.7 and s = $206.5.)
b. Obtain a normal probability plot, a boxplot, a histogram, and a stem-and-leaf diagram of the data.
c. 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.
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a Using Minitab choose Stat Basic statistics 1Sample tenter PRICE in the Samples in columns text b...View the full answer
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