Sampling And Data Collection

Topics: Diamond, Scientific method, Statistics Pages: 4 (624 words) Published: April 15, 2015


Sampling and Data Collection
Antonio Walker
QNT 561
March 19, 2015
Samuel Imarhiagbe
Sampling and Data Collection
B.G.J. &W. Diamond Company is one of the most prominent diamond cutters, importers, and designers of fine jewelry in the country. Members of B.G.J. &W are Diamond Graduates of the Gemological Institute of America and proud members of the World Federation of Diamond Bourses and the Diamond Dealers Club of New York. As such, B.G.J. &W Diamond Company offers an astonishing assortment of diamonds and an elite assemblage of jewelry motifs. The organization firmly believes that purchasing a diamond should be a fun and rewarding experience. Each customer is educated on the 4c’s of diamonds and has an opportunity to view various diamonds loosely before placing them in a setting. Additionally, all diamonds sold by B.G.J. &W. come with a written grading report from the Gemological Institute of America (GIA). In addition to exceptional pricing, consumers of B.G.J. &W Diamond Company receive diamonds that reflect only the best cut, color, clarity, and carat along with confidence that they are purchasing a quality piece of jewelry. Problem Statement & Purpose

Good research follows the scientific method and the purpose of business research is clearly defined, and vagueness rarely exists (Cooper & Schindler, 2011, pg. 13). Diamond characteristics such as, clarity, color, and carat are essential components of a diamond. These features are determiners in the purchase of a diamond, which is why it is important for a gemologist to understand these variables. The purpose of this study is to conduct an investigation to determine whether there is any relationship between the dependent variable (price) and the independent variables (carat, clarity, and color).

The null hypothesis usually represents the “status quo,” that is accepted unless the data provides convincing evidence that it is false, and the alternative hypothesis is the assumption that is...
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