To celebrate their fi rst anniversary, Randy Nelson decided to buy a pair of diamond earrings for his wife Debbie. He was shown nine pairs with marquise gems weighing approximately 2 carats per pair. Because of differences in the colors and qualities of the stones, the prices varied from set to set. The average price was $2,990, and the sample standard deviation was $370. He also looked at six pairs with pear-shaped stones of the same 2-carat approximate weight. These earrings had an average price of $3,065, and the standard deviation was $805. On the basis of this evidence, can Randy conclude (at a signifi cance level of 0.05) that pearshaped diamonds cost more, on average, than marquise diamonds?

Contact us for the solution

 
Are you need any help? Contact Us now.

Most Reading Solutions