Question
The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. Find the (a) explained variation, (b) unexplained variation, and (c) indicated prediction
The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. Find the (a) explained variation, (b) unexplained variation, and (c) indicated prediction interval. There is sufficient evidence to support a claim of a linear correlation, so it is reasonable to use the regression equation when making predictions. For the prediction interval, use a 95% confidence level with a diamond that weighs 0.8 carats.
Weight: 0.3 0.4 0.5 0.5 1.0 0.7
Price: 514 1159 1349 1407 5658 2274
Find the explained variation (round to nearest whole number)
Find the unexplained variation (round to nearest whole number)
Find the indicated prediction interval (round to nearest whole number)
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