What is the relationship between diamond price and carat size? 307 diamonds were sampled 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 standard deviation of the regression model.
A) We can explain of the variation in the sampled diamond prices around their mean using the size of the diamond in a linear model.
B) For every 1-carat increase in the size of a diamond, we estimate that the price of the diamond will increase by .
C) We expect most of the sampled diamond prices to fall within of their least squares predicted values.
D) We expect most of the sampled diamond prices to fall within of their least squares predicted values.
Correct Answer:
Verified
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