An article in the Journal of Statistics Education reported the price of diamonds of different sizes in Singapore dollars
(SGD). The following table contains a data set that is consistent with this data, adjusted to US dollars in 2004:

$\begin{array}{l}\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 494.82 & 0.12 \\\hline 768.03 & 0.17 \\\hline 1105.03 & 0.20 \\\hline 1508.88 & 0.25 \\\hline 1826.18 & 0.28 \\\hline 2096.89 & 0.33 \\\hline\end{array}\quad\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 688.24 & 0.15 \\\hline 944.90 & 0.18 \\\hline 1071.75 & 0.21 \\\hline 1504.44 & 0.26 \\\hline 1908.28 & 0.29 \\\hline 2409.76 & 0.35 \\\hline\end{array}\quad\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 748.10 & 0.16 \\\hline 1076.18 & 0.19 \\\hline 1289.20 & 0.23 \\\hline 1597.63 & 0.27 \\\hline 2038.09 & 0.32 \\\hline & \\\hline\end{array}\end{array}$

-Explain the meaning of R²in the context of this problem.

Question

An article in the Journal of Statistics Education reported the price of diamonds of different sizes in Singapore dollars
(SGD). The following table contains a data set that is consistent with this data, adjusted to US dollars in 2004:

\begin{array}{l}\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 494.82 & 0.12 \\\hline 768.03 & 0.17 \\\hline 1105.03 & 0.20 \\\hline 1508.88 & 0.25 \\\hline 1826.18 & 0.28 \\\hline 2096.89 & 0.33 \\\hline\end{array}\quad\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 688.24 & 0.15 \\\hline 944.90 & 0.18 \\\hline 1071.75 & 0.21 \\\hline 1504.44 & 0.26 \\\hline 1908.28 & 0.29 \\\hline 2409.76 & 0.35 \\\hline\end{array}\quad\begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \\\hline 748.10 & 0.16 \\\hline 1076.18 & 0.19 \\\hline 1289.20 & 0.23 \\\hline 1597.63 & 0.27 \\\hline 2038.09 & 0.32 \\\hline & \\\hline\end{array}\end{array}

-Explain the meaning of R²in the context of this problem.

Quizplus · Accepted Answer

The Answer of An article in the Journal of Statistics Education reported the price of diamonds of different sizes in Singapore dollars (SGD). The following table contains a data set that is consistent with this data, adjusted to US dollars in 2004: $\begin{array}{l} \begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \ \hline 494.82 & 0.12 \ \hline 768.03 & 0.17 \ \hline 1105.03 & 0.20 \ \hline 1508.88 & 0.25 \ \hline 1826.18 & 0.28 \ \hline 2096.89 & 0.33 \ \hline \end{array}\quad \begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \ \hline 688.24 & 0.15 \ \hline 944.90 & 0.18 \ \hline 1071.75 & 0.21 \ \hline 1504.44 & 0.26 \ \hline 1908.28 & 0.29 \ \hline 2409.76 & 0.35 \ \hline \end{array}\quad \begin{array} { | c | c | } \hline \text { 2004 US S } & \text { Carat } \ \hline 748.10 & 0.16 \ \hline 1076.18 & 0.19 \ \hline 1289.20 & 0.23 \ \hline 1597.63 & 0.27 \ \hline 2038.09 & 0.32 \ \hline & \ \hline \end{array} \end{array}$ -Explain the meaning of R²in the context of this problem.

An Article in the Journal of Statistics Education Reported the Price