A new process for producing synthetic diamonds can be operated at a profitable level only if the average weight of the diamonds produced by the process is greater than 0.5 karat. To evaluate the profitability of the process, a sample of six diamonds was generated using this new process, with recorded weights .46, .61, .52, .48, .57, and .54 karat. Do the six measurements present sufficient evidence to indicate that the average weight of the diamonds produced by the new process is in excess of 0.5 karat? To answer this question conduct an appropriate test of hypothesis using the five step process outlined in our textbook and utilized in the solutions to the Chapter 8 review problems
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Excerpt from file: Anewprocessforproducingsyntheticdiamondscanbeoperatedataprofitablelevelonlyiftheaverage weightofthediamondsproducedbytheprocessisgreaterthan0.5karat.Toevaluatetheprofitabilityofthe process,asampleofsixdiamondswasgeneratedusingthisnewprocess,withrecordedweights.46,.61,....
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