Alice is the jewelry designer for Diamond & Platinum and she is designing a new diamond collection.
Question:
Alice is the jewelry designer for Diamond & Platinum and she is designing a new diamond collection. Before she starts her design, she is checking on the width of the diamond provided by the company. A sample of 25 diamonds was selected by her and the widths (in mm) for each diamonds were recorded below:
3.98 3.96 4.28 4.42 4.3 3.84 3.98 3.9 4.34 3.92 4.07 4.11 3.84 4.29 3.96 4.23 3.78 4.37 4.26 4.43 4.35 4.05 3.75 4.27 4.47
a. Compute the range, interquartile range, variance, and standard deviation for the diamonds’ width.
b. Assume Alice found that she has wrongly recorded one of the diamonds’ width and replaces 4.47 mm with 4.49 mm. Determine which of the findings in part a is not affected by the change.
c. Suppose the company decides to provide Alice with smaller diamonds and the width of each reduces by 0.1 mm. Would this affect your findings for part a?
Step by Step Answer:
Business Statistics
ISBN: 9781292220383
10th Global Edition
Authors: David Groebner, Patrick Shannon, Phillip Fry