What Is the Relationship Between Diamond Price and Carat Size $y$

question 22

Multiple Choice

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 $y$ -intercept of the regression line.

• A) When a diamond is \(11598.9\) carats in size, we estimate the price of the diamond to be \(\$ 2298.36\).
• B) When a diamond is 0 carats in size, we estimate the price of the diamond to be \(\$ 2298.36\).
• C) No practical interpretation of the \(y\)-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.

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