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Price in $ of diamonds is expected to be correlated the number of carats in the diamond and the store area size of the retail
Price in $ of diamonds is expected to be correlated the number of carats in the diamond and the store area size of the retail store. Using the regression analysis statistics below, execute a hypothesis test and interpret the regression coefficient for Carats. Coefficients Standard Error t Stat P-value Intercept -218.76 9.39 -23.30 0.00 Carats 3242.69 28. 62 113.31 0.00 Store Areasq ft -0.01 0.00 -3.10 0.00 O An increase of 1 carat is expected to increase the price of the diamond by $0.01. O An increase of 1 carat is expected to increase the price of the diamond by $219. O An increase of 1 carat is not expected to raise the price of a diamond. O An increase of 1 carat is expected to increase the price of the diamond by $3,243
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