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OpenIntro Statistics | 3rd Edition | ISBN: 9781943450039 | Authors: David M Diez; Christopher D Barr; Mine Çetinkaya-Rundel
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In Exercise 5.28, we discussed diamond prices

Chapter , Problem 5.30

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QUESTION:

In Exercise 5.28, we discussed diamond prices (standardized by weight) for diamonds with weights 0.99 carats and 1 carat. See the table for summary statistics, and then construct a 95% confidence interval for the average dierence between the standardized prices of 0.99 and 1 carat diamonds. You may assume the conditions for inference are met.

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QUESTION:

In Exercise 5.28, we discussed diamond prices (standardized by weight) for diamonds with weights 0.99 carats and 1 carat. See the table for summary statistics, and then construct a 95% confidence interval for the average dierence between the standardized prices of 0.99 and 1 carat diamonds. You may assume the conditions for inference are met.

ANSWER:

Q: In Exercise 5.28, we discussed diamond prices (standardized by weight) for diamondswith weights 0.99 carats and 1 carat. See the table for summary statistics, and thenconstruct a 95% confidence interval for the average difference between the standardizedprices of 0.99 and 1 carat diamonds. You may assume the conditions for inference are met. Step By Step Solution:Step 1of 3:From the summary statistics:For 0.99c:For 1c:

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