Diamond Prices, Carats, and Color Refer to Data Set 18 in Appendix B. a. Use the paired
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Diamond Prices, Carats, and Color Refer to Data Set 18 in Appendix B.
a. Use the paired data consisting of the carat weight (x) and the price (y). What is the best predicted price of a diamond with a weight of 1.5 carats?
b. Use the paired color (x) and price (y) data. What is the best predicted price of a diamond with a color rating of 3?
c. Which predicted price is better: the result from part
(a) or the result from part (b)?
Why?
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