1.

Compute a Pearson Correlation and linear regression to investigate

relationship between a diamond's weight and its price. From the output,

identify the following:

a.

Slope associated with the predictor variable

b.

Constant for the regression equation

c.

Mean weight and price of the diamond

d.

Correlation between weight and diamond. Is the correlation

significant?

e. regression equation

1. scatterplot. Plot the line of best fit (regression line) on the

graph. What does the scatterplot indicate regarding the predictability of

the dependent variable (price)?

3.

Is the price significantly related to the diamond's weight?

Interpret the results of the regression analysis to answer the question.

Data:

IDNOWEIGHTCOLORCLARITYRATERPRICE10.3DVS2GIA130220.3EVS1GIA151030.3GVVS1GIA151040.3GVS1GIA126050.31DVS1GIA164160.31EVS1GIA155570.31FVS1GIA142780.31GVVS2GIA142790.31HVS2GIA1126100.31IVS1GIA1126110.32FVS1GIA1468120.32GVS2GIA1202130.33EVS2GIA1327140.33IVS2GIA1098150.34EVS1GIA1693160.34FVS1GIA1551170.34GVS1GIA1410180.34GVS2GIA1269190.34HVS1GIA1316200.34HVS2GIA1222210.35EVS1GIA1738220.35FVS1GIA1593230.35GVS1GIA1447240.35HVS2GIA1255250.36FVS1GIA1635260.36HVVS2GIA1485270.37FVS2GIA1420280.37HVS1GIA1420290.4FVS1GIA1911300.4HVS1GIA1525310.41FVS1GIA1956320.43HVVS2GIA1747330.45IVS1GIA1572340.46EVVS2GIA2942350.48GVVS2GIA2532360.5EVS1GIA3501370.5EVS1GIA3501380.5FVVS2GIA3501390.5FVS1GIA3293400.5GVS1GIA3016410.51FVVS2GIA3567420.51GVS1GIA3205430.52DVS2GIA3490440.52EVS1GIA3635450.52FVVS2GIA3635460.52FVS1GIA3418470.53DVS1GIA3921480.53FVVS2GIA3701490.53FVS1GIA3480500.53GVVS2GIA3407510.54EVS1GIA3767520.54FVVS1GIA4066530.55EVVS2GIA4138540.55FVS1GIA3605550.55GVVS2GIA3529560.56FVS1GIA3667570.56IVVS2GIA2892580.57GVVS2GIA3651590.59GVVS2GIA3773600.6FVS1GIA4291610.62EVVS1GIA5845620.63GVVS2GIA4401630.64GVVS1GIA4759640.66HVVS1GIA4300650.7FVS1GIA5510660.7GVS1GIA5122670.7HVVS2GIA5122680.7IVS2GIA3861690.71FVVS2GIA5881700.71FVS1GIA5586710.71FVS2GIA5193720.71HVVS2GIA5193730.72FVS2GIA5263740.8IVVS2GIA5441750.82IVS2GIA4948760.84HVS2GIA5705770.85FVS2GIA6805780.86HVVS2GIA6882790.89HVS1GIA6709800.9IVVS2GIA6682810.5EVS1GIA3501820.5GVVS1GIA3432830.51FVVS1GIA3851840.55HIFGIA3605850.56EVS1GIA3900860.57HVVS1GIA3415870.6HIFGIA4291880.63EIFGIA6512890.7EVS1GIA5800900.7FVVS1GIA6285910.7FVS2GIA5122920.7FVS2GIA5122930.7GVS1GIA5122940.7HVVS2GIA5122950.71DVS1GIA6372960.71EVS1GIA5881970.71HVVS2GIA5193980.72EVS1GIA5961990.72HVVS1GIA56621000.73EVS2GIA57381010.73HVS1GIA50301020.73HVS1GIA50301030.73IVVS1GIA47271040.73IVS1GIA42211050.74GVVS2GIA58151060.74HVS2GIA45851070.75DVVS2GIA73681080.75IVVS2GIA46671090.75IVS1GIA43551100.76DIFGIA98851110.77FVVS1GIA69191120.78HVS1GIA53861130.8IVS2GIA48321140.83EVS2GIA71561150.9FVS1GIA76801161DVVS1GIA155821171DVS1GIA114191181EVS1GIA105881191EVS2GIA97571201FIFGIA139131211FVVS2GIA105881221FVS1GIA107131231FVS2GIA94801241GVVS2GIA98961251GVS1GIA96191261GVS2GIA91691271GVS2GIA92031281HVS2GIA87881291IVS1GIA80951301IVS2GIA78181311.01DVVS1GIA160081321.01EVS1GIA106921331.01EVS2GIA98531341.01FVS1GIA102721351.01FVS2GIA95731361.01HVS1GIA91531371.01HVS2GIA88731381.01IVVS1GIA88731391.01IVVS2GIA84551401.01IVS2GIA78951411.02FVS1GIA103721421.02FVS2GIA96661431.02GVVS2GIA100901441.03EVS1GIA109001451.04FVS1GIA105711461.04IIFGIA95631471.05IVVS2GIA87811481.06GVS2GIA97431491.06HVS2GIA93021501.07IVVS2GIA89451511.1HVS2GIA96461520.18FVVS1IGI8231530.18FVVS2IGI7651540.18GIFIGI8031550.18GIFIGI8031560.18GVVS2IGI7051570.18HIFIGI7251580.19DVVS2IGI9671590.19EIFIGI10501600.19FIFIGI9671610.19FVVS1IGI8631620.19FVVS2IGI8001630.19GIFIGI8421640.19GVVS1IGI8001650.19HIFIGI7581660.2DVS1IGI8801670.2GIFIGI8801680.2GVS1IGI7051690.2GVS2IGI6381700.21DVS1IGI9191710.21EIFIGI11491720.21FIFIGI10571730.21GIFIGI9191740.22EIFIGI11981750.23EIFIGI12481760.23FIFIGI11471770.23GIFIGI9951780.24HIFIGI11081790.25FIFIGI14851800.25GIFIGI12831810.25HIFIGI11491820.25IIFIGI10821830.26FIFIGI15391840.26FVVS1IGI13651850.26FVVS2IGI12601860.26IIFIGI11211870.27FIFIGI15951880.27HIFIGI12331890.28IIFIGI11991900.29GIFIGI14711910.29IIFIGI12381920.3EVVS2IGI15801930.3FVVS2IGI14591940.3GVVS1IGI14591950.3HVVS2IGI12181960.3IIFIGI12991970.31EVVS2IGI16281980.31FVVS1IGI16281990.31IIFIGI13372000.32HIFIGI14622010.33HIFIGI15032020.34FVVS1IGI17732030.34FVVS2IGI16362040.35FVVS1IGI18212050.35GVVS2IGI15402060.4GIFIGI22762070.41IVVS1IGI16162080.41IVVS2IGI15062090.47FVVS2IGI26512100.48FVS1IGI23832110.5GIFIGI36522120.51EVVS2IGI37222130.51FVVS1IGI37222140.52IIFIGI30952150.55FVVS2IGI37062160.56EVVS2IGI40702170.56GVVS2IGI34702180.58EVVS1IGI48312190.58FVVS1IGI42092200.58GVVS1IGI38212210.7GVVS1IGI56072220.7GVVS2IGI53262230.71DVS1IGI61602240.76FVVS2IGI60952250.78GVVS2IGI59372261HVVS2IGI93422271.01GVS1IGI97132281.01HVS2IGI88732291.01IVS1IGI81752300.5FVVS1HRD37782310.5GVVS1HRD34322320.51FVVS1HRD38512330.52EVS2HRD33462340.52HVVS1HRD31302350.53FVVS1HRD39952360.53FVVS2HRD37012370.55GVVS2HRD35292380.56FVS1HRD36672390.56FVS2HRD32022400.57FVS2HRD32562410.57HVVS1HRD34152420.58HIFHRD37922430.6GVS1HRD39252440.6GVS2HRD34212450.6HVVS1HRD39252460.61HVVS2HRD36162470.62IVVS2HRD36152480.64HVVS2HRD37852490.65IVVS2HRD36432500.66HVVS1HRD43002510.7EVVS1HRD68672520.7EVVS2HRD62852530.7GVVS1HRD58002540.7GVVS2HRD55102550.7HVS2HRD43462560.71GIFHRD63722570.71HVVS2HRD51932580.72HVVS1HRD56622590.73FVS2HRD53332600.73GVVS1HRD60412610.74HVVS1HRD58152620.8FIFHRD86112630.8FVS1HRD69052640.8GVVS2HRD69052650.8HVVS2HRD64162660.8HVS1HRD60512670.81EVVS1HRD87152680.81EVS2HRD69882690.81FVS1HRD69882700.81GVS1HRD64952710.81HIFHRD73582720.82FVS2HRD65722730.82GVVS2HRD70722740.85FVVS1HRD83592750.85FVS2HRD68052760.85GVVS1HRD77112770.86HVS2HRD58352781DVVS2HRD137752791EVVS1HRD140512801EVVS2HRD114192811EVS1HRD105882821FVVS1HRD116962831FVVS2HRD105882841GVVS1HRD104502851GVVS2HRD98962861GVS2HRD92032871HVVS1HRD94802881HVS1HRD90652891HVS2HRD87882901IVVS1HRD87882911IVVS2HRD83722921IVS1HRD80952931IVS2HRD78182941.01DVVS2HRD139092951.01EVVS2HRD115312961.01EVS1HRD106922971.01FVVS1HRD118112981.01FVS1HRD102722991.01GVVS2HRD99933001.01GVS2HRD92933011.01HVVS2HRD94333021.01HVS1HRD91533031.01IVVS1HRD88733041.01IVS1HRD81753051.02FVVS2HRD107963061.06HVVS2HRD98903071.02HVS2HRD89593081.09IVVS2HRD9107

Data are for 308 round-cut diamonds, taken from a newspaper ad

Data were obtained from the Journal of Statistics Education data archive

IDNO - an identification number for each data point

WEIGHT - weight of the diamond, in carats

COLOR - degree of color purity in the diamond

"D" represents top color purity grade

Lesser grades are "E", "F", and so on, through the alphabet

CLARITY - diamond clarity (presence or absence of minute flaws)

"IF" means "internally flawless" - the top grade. No flaws visible under 10-power magnification

Other grades in descending order:

"VVS1" and "VVS2" for "very very slightly imperfect"

"VS1" and "VS2" for "very slightly imperfect"

RATER - the diamond was evaluated by one of three independent rating agencies

"GIA" - Gemmological Institute of America (based in New York)

"IGI" - International Gemmological Institute (Antwerp)

"HRD" - Hoge Raad Voor Diamant (Antwerp)

PRICE - in Singapore dollars