What Is the Relationship Between Diamond Price and Carat Size $\$ 2298.36$

question 65

Multiple Choice

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 estimated slope of the regression line.

• A) For every 1-carat increase in the size of a diamond, we estimate that the price of the diamond will decrease by \(\$ 2298.36\).
• B) For every 1-carat increase in the size of a diamond, we estimate that the price of the diamond will increase by \(\$ 11,598.90\).
• C) For every 2298.36-carat decrease in the size of a diamond, we estimate that the price of the diamond will increase by \(\$ 11,598.90\).
• D) For every \(\$ 1\) decrease in the price of the diamond, we estimate that the size of the diamond will increase by \(11,598.9\) carats.