Refer to the DIAMONDS data , data from a random sample of diamonds sold on the open market. We'd like to use the data to estimate p = proportion of all diamonds sold on the open market that are certified by the Gemological Institute of America (GIA).
Copy the data to a Minitab worksheet.
Check the conditions necessary for the validity of the z-interval.
| Question 1 of 5 || |
| Question 2 of 5 |
Give the point estimate of p.
_____________(4 decimal places)
| Question 3 of 5 || |
Use Minitab to calculate a 99% confidence interval for p. Use the appropriate method based on your sample size checks.
( _________ , _______ ) (6 decimal places)
| Question 4 of 5 || |
Interpret the confidence interval in the context of this problem.
| Question 5 of 5 ||3.0 Points |
Explain what the phrase "99% confident" means in the context of this problem.