Selling prices for 230 diamonds evaluated by two different diamond ratings agenc

Question

Selling prices for 230 diamonds evaluated by two different diamond ratings agencies (GIA and HRD) were collected and the data was analyzed using the Microsoft Excel data analysis toolpak. The following results were generated in Excel inputing alpha.05 in the Excel dialog box. Based on these Microsoft excel data analyses results, if the the hypothesis test is testing "whether the mean retail sales price of GIA is less than the mean retail sales price of HRD the p-value of this hypothesis test is 4.1505 since the p-value is larger than the level of significance (05),the full hypothesis will not be rejected. The p-value of this hypothesis test is approximately zero

Explanation / Answer

p value = 4.15046x10-6

= 0.00000415046

Hence almost zero

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