Question: Task 2: Using the numerical analysis in the dataset provided (refer to the Numerical Analysis tab), discuss if there is a difference between the mean
Task 2: Using the numerical analysis in the dataset provided (refer to the Numerical Analysis tab), discuss if there is a difference between the mean ethical score rated by customers who purchased verified diamonds and those who purchased unverified diamonds. Specifically: (a) Justify the analysis approach used. (b) Interpret the results of your analysis. (c) Advise the FD on what the results mean for Louis Edgar.

\begin{tabular}{l|r|r} \hline F-Test Two-Sample for Variances - Ethical Scores & \\ \hline & Unverified Diamonds & Verified Diamonds \\ \hline Mean & 7.811764706 & 8.7 \\ \hline Variance & 0.487955182 & 0.281355932 \\ \hline Observations & 85 & 60 \\ \hline df & 84 & 59 \\ \hline F & 1.734298539 & \\ \hline P(F> variance of variable 2 , which is the case 0.49>0.28. Otherwise, variables must be swapped. F>F Critical one-tail (1.73>1.50); hence, Variances are not equal and t-test for unequal variances should be used. t-Test: Two-Sample Assuming Unequal Variances - Ethical Scores \begin{tabular}{l|r|r} \hline & Unverified Diamonds & Verified Diamonds \\ \hline Mean & 7.811764706 & 8.7 \\ \hline Variance & 0.487955182 & 0.281355932 \\ \hline Observations & 85 & 60 \\ \hline Hypothesized Mean Difference & 0 & \\ \hline df & 142 & \\ t Stat & -8.697364008 & \\ \hline P(T3.80569E15 & \\ t Critical one-tail & 1.655655173 & \\ \hline P (T
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
