"Affordable" Diamond Pricing Imagine you have set out to purchase a diamond, and you want all the
information you can possibly get before the purchase. You run an Internet
search on diamonds to learn more about the different cuts, carat ranges, color
values, and so on. After having researched a bit, you've decided on the basic
cut, quality, color, and weight range that you can probably afford.
This diamond pricing spreadsheet e gives three snapshots of a large set of
data on diamond pricing. The 0.30-0.40 Carats tab gives the 2012 data on
diamonds ranging from 0.30 to 0.40 carats.
Part A
Go to the Subset tab, which gives a subset of randomly chosen data from the
first tab. Go to your Math Tools and open the Graph tool. Plot the data of
weight (carat) versus price in this tab using the +Data button (Note that you
can copy two columns of data and use "paste table data"). Export an image of
the plot, and paste it in the space below. Find the equation of the regression
line (using a Best Fit Linear relationship) and the value of the correlation
coefficient (0)