Statistics Post ***Due within 1 hour***

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, which can be accessed via the link in the Assignments, Tests & Quizzes sub-section in the weekly lesson that can be found in the Lessons section of our classroom.

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****  In addition to the computations you employed to arrive at your response, your post must contain comments regarding the rationale for the approach you utilized.  Simply listing an answer is of no real value in promoting a discussion..****