(Solved) The cost of a one carat VS2 clarity, H color diamond source usa is $5600. A Midwestern jeweler makes calls to contacts in the diamond district of
Question:
The cost of a one carat VS2 clarity, H color diamond source usa is $5600. A Midwestern jeweler makes calls to contacts in the diamond district of NYC to see whether the mean price of diamonds there differs from $5600.
a.) Formulate hypotheses that can be used to determine whether the mean price in NY differs from $5600.
b.) A sample of 25 New York City contacts provided prices shown in the CD File named Diamonds. What is the p-value?
c.) C. at a= .05, can the null hypotheses be rejected? What is your conclusion?
d.) Repeat the preceding hypothesis test using the critical value approach.
Deliverable: Word Document 
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