The Table Below Lists Weights (Carats) and Prices (Dollars) for Randomly

question 15

Essay

The table below lists weights (carats) and prices (dollars) for randomly selected diamonds. Find the regression equation, letting the weight be the predictor variable. Find the best predicted price for a diamond with a weight of 1.50 carats. What is wrong with predicting the price of a 1.50 -carat diamond?
$\begin{array} { | l | l | l | l | l | l | l | } \hline \text { Weight } & 0.3 & 0.4 & 0.5 & 0.5 & 1.0 & 0.7 \\\hline \text { Price } & 510 & 1151 & 1343 & 1410 & 5669 & 2277 \\\hline\end{array}$

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Definitions:

Intertidal

The coastal zone between high and low tide lines, experiencing both marine and terrestrial conditions.

Pelagic Zone

The open ocean area away from the coastal regions, covering the water column not located on the sea bed.

Phytoplankton

Community of tiny drifting or swimming photosynthetic organisms.

Spines

Stiff, sharp projections on plants or animals, serving as a defense mechanism or structural support.