Question
In: Statistics and Probability
The dataset ‘diamondpricesbyrater’ (available in Canvas) contains information on the prices of samples of diamonds rated...
The dataset ‘diamondpricesbyrater’ (available in Canvas) contains information on the prices of samples of
diamonds rated by agencies IGI and by HRD. Use R to conduct a hypothesis test to determine if there is a
difference in the mean price of diamonds rated by the two agencies. State your hypotheses and conclusions.
diamondpricesbyrater.txt
IGI HRD
823 3778
765 3432
803 3851
803 3346
705 3130
725 3995
967 3701
1050 3529
967 3667
863 3202
800 3256
842 3415
800 3792
758 3925
880 3421
880 3925
705 3616
638 3615
919 3785
1149 3643
1057 4300
919 6867
1198 6285
1248 5800
1147 5510
995 4346
1108 6372
1485 5193
1283 5662
1149 5333
1082 6041
1539 5815
1365 8611
1260 6905
1121 6905
1595 6416
1233 6051
1199 8715
1471 6988
1238 6988
1580 6495
1459 7358
1459 6572
1218 7072
1299 8359
1628 6805
1628 7711
1337 5835
1462 13775
1503 14051
1773 11419
1636 10588
1821 11696
1540 10588
2276 10450
1616 9896
1506 9203
2651 9480
2383 9065
3652 8788
3722 8788
3722 8372
3095 8095
3706 7818
4070 13909
3470 11531
4831 10692
4209 11811
3821 10272
5607 9993
5326 9293
6160 9433
6095 9153
5937 8873
9342 8175
9713 10796
8873 9890
8175 8959
Solutions
Expert Solution
Let us denote the difference
d = price of diamonds rated by IGI - price of diamonds rated by HRD
There is sufficient evidence to conclude that there is a significant difference in the mean price of diamonds rated by the two agencies.
R command :
orchestra answered 2 years agoRelated Solutions
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