Question 1 "Affordable" Diamond Pricing
Imagine you have set out to purchase a diamond, and you want all the information you can possibly get before the purchase. You run an Internet
search on diamonds to learn more about the different cuts, carat rangles, color values, and so on. After having researched a bit, you've decided on
the basic cut, quality, color, and weight range that you can probably afford.
This diamond pricing spreadsheet gives three snapshots of a large set of data on diamond pricing. The 0.30-0.40 Carats tab gives the 2012
data on diamonds ranging from 0.30 to 0.40 carats.
Part A
Go to the Subset tab, which gives a subset of randomly chosen data from the first tab. Go to your Math Tools and open the Graph tool. Plot the
data of weight (carat) versus price in this tab using the + Data button (Note that you can copy two columns of data and use "paste table data"),
Export an image of the plot, and paste it in the space below. Find the equation of the regression line (using a Best Fit Linear relationship) and the
value of the correlation coefficient (1)
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