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

question 123

Essay

The table below lists weights (carats) and prices (dollars) for randomly selected diamonds. Is there sufficient
evidence to suggest that there is a linear correlation between weights and prices? Construct a scatterplot, and
find the value of the linear correlation coefficient r.
Also find the P-value or the critical values of r using $\alpha = 0.05$ $$\begin{array} { | l | l | l | l | l | l | l | } \hline \text { Weight } & 0.3 & 0.4 & 0.5 & 0.5 & 1.0 & 0.7 \\\hline \text { Price } & 510 & 1151 & 1343 & 1410 & 5669 & 2277 \\\hline\end{array}$$

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Definitions:

Regulation CC

A federal regulation that governs the availability of funds and collection of checks in the United States.

Deposited Funds

Money placed into a bank account or financial institution for safekeeping and potential interest accumulation.

Debtor

An entity or person that owes money to another party.

Deposits

Deposits involve placing funds into a bank account or other financial institution for safekeeping, often earning interest over time.