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Characteristics of diamonds sold at retail. Refer to

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 158SE Chapter 2

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 158SE

Problem 158SE

Characteristics of diamonds sold at retail. Refer to Exercise 2.157. In addition to the number of carats, the asking price for each of the 308 diamonds for sale on the open market was recorded. Construct a scatterplot for the data, with number of carats on the horizontal axis and price on the vertical axis. What type of trend do you detect?

Color and clarity of diamonds (cont’d). Refer to Exercise 2.156. In addition to color and clarity, the independent certification group (GIA, HRD, or IGI) and the number of carats were recorded for each of 308 diamonds for sale on the open market.

a. Use a graphical method to describe the carat distribution of all 308 diamonds.

b. Use a graphical method to describe the carat distribution of diamonds certified by the GIA group.

c. Repeat part b for the HRD and IGI certification groups.

d. Compare the three carat distributions, parts b and c. Is there one particular certification group that appears to be assessing diamonds with higher carats than the others?

e. Find and interpret the mean of the data set.

f. Find and interpret the median of the data set.

g. Find and interpret the mode of the data set.

h. Which measure of central tendency best describes the 308 carat values? Explain.

i. Use the mean and standard deviation to form an interval that will contain at least 75% of the carat values in the data set.

Color and clarity of diamonds. Diamonds are categorized according to the “four C’s”: carats, clarity, color, and cut. Each diamond stone that is sold on the open market is provided a certificate by an independent diamond assessor that lists these characteristics. Data for 308 diamonds were extracted from Singapore’s Business Times (Journal of Statistics Education, Vol. 9, No. 1, 2001). Color is classified as D, E, F, G, H, or I, while clarity is classified as IF, VVS1, VVS2, VS1, or VS2. Use a graphical technique to summarize the color and clarity of the 308 diamond stones. What is the color and clarity that occurs most often? Least often?

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Chapter 1 Notes Data Communications Networks  Data Communications—the movement of computer information from one point to another by meals of electrical or optical transmission systems o Such systems called data communications networks o Telecommunications—broader term; includes transmission of voice and video as well as data and usually implies longer distances. Components of a Network  Three basic hardware components for a data communications network: o Server—personal computer, mainframe o Client—personal computer, terminal o Circuit—cable, modem  Server—stores data or software that can be accessed by the clients. o File Server—stores data and software that can be used by computer

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Chapter 2, Problem 158SE is Solved
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Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

This textbook survival guide was created for the textbook: Statistics for Business and Economics , edition: 12. Since the solution to 158SE from 2 chapter was answered, more than 667 students have viewed the full step-by-step answer. The answer to “Characteristics of diamonds sold at retail. Refer to Exercise 2.157. In addition to the number of carats, the asking price for each of the 308 diamonds for sale on the open market was recorded. Construct a scatterplot for the data, with number of carats on the horizontal axis and price on the vertical axis. What type of trend do you detect?Color and clarity of diamonds (cont’d). Refer to Exercise 2.156. In addition to color and clarity, the independent certification group (GIA, HRD, or IGI) and the number of carats were recorded for each of 308 diamonds for sale on the open market.a. Use a graphical method to describe the carat distribution of all 308 diamonds.b. Use a graphical method to describe the carat distribution of diamonds certified by the GIA group.c. Repeat part b for the HRD and IGI certification groups.d. Compare the three carat distributions, parts b and c. Is there one particular certification group that appears to be assessing diamonds with higher carats than the others?e. Find and interpret the mean of the data set.f. Find and interpret the median of the data set.g. Find and interpret the mode of the data set.h. Which measure of central tendency best describes the 308 carat values? Explain.i. Use the mean and standard deviation to form an interval that will contain at least 75% of the carat values in the data set.Color and clarity of diamonds. Diamonds are categorized according to the “four C’s”: carats, clarity, color, and cut. Each diamond stone that is sold on the open market is provided a certificate by an independent diamond assessor that lists these characteristics. Data for 308 diamonds were extracted from Singapore’s Business Times (Journal of Statistics Education, Vol. 9, No. 1, 2001). Color is classified as D, E, F, G, H, or I, while clarity is classified as IF, VVS1, VVS2, VS1, or VS2. Use a graphical technique to summarize the color and clarity of the 308 diamond stones. What is the color and clarity that occurs most often? Least often?” is broken down into a number of easy to follow steps, and 339 words. This full solution covers the following key subjects: diamonds, clarity, color, data, carats. This expansive textbook survival guide covers 15 chapters, and 1631 solutions. Statistics for Business and Economics was written by and is associated to the ISBN: 9780321826237. The full step-by-step solution to problem: 158SE from chapter: 2 was answered by , our top Business solution expert on 07/21/17, 05:42AM.

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