What is the relationship between diamond price and carat size? 307 diamonds were sampled (ranging in size from 0.18 to 1.1 carats) and a straight-line relationship was hypothesized between
Y = diamond price (in dollars) and x = size of the diamond (in carats) . The simple linear regression
For the analysis is shown below: Least Squares Linear Regression of PRICE
Predictor
Interpret the estimated -intercept of the regression line.
A) When a diamond is carats in size, we estimate the price of the diamond to be .
B) When a diamond is 0 carats in size, we estimate the price of the diamond to be .
C) No practical interpretation of the -intercept exists since a diamond of 0 carats cannot exist and falls outside the range of the carat sizes sampled.
D) When a diamond is 0 carats in size, we estimate the price of the diamond to be \$11,598.90.
Correct Answer:
Verified
Q34: What is the relationship between diamond
Q35: A county real estate appraiser wants
Q36: Consider the data set shown below.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents