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

question 3

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:

Masculine

Refers to qualities, attributes, or roles traditionally associated with men and boys.

Psychoanalytic

Relating to the theory of psychology and therapeutic method developed by Sigmund Freud, emphasizing unconscious motivations and conflicts.

Social Learning Theory

A theory that suggests people can learn new behaviors and information by observing others, emphasizing the importance of modeling, imitating, and social reinforcement.

Gender-typing

The process by which individuals come to acquire the traits, behaviors, and roles that are generally associated with their gender in their culture.