Question
The table below lists weights(carats) and prices(dollars) of randomly selected diamonds. Find the(a) explainedvariation, (b) unexplainedvariation, and(c) indicated prediction interval. There is sufficient evidence to
The table below lists weights(carats) and prices(dollars) of randomly selected diamonds. Find the(a) explainedvariation, (b) unexplainedvariation, and(c) indicated prediction interval. There is sufficient evidence to support a claim of a linearcorrelation, so it is reasonable to use the regression equation when making predictions. For the predictioninterval, use a95% confidence level with a diamond that weighs 0.8 carats.
Weight
0.3
0.4
0.5
0.5
1.0
0.7
Price
$523
$1150
$1338
$1414
$5650
$2272
a. Find the explained variation.
(Round to the nearest whole number asneeded.)
b. Find the unexplained variation.
(Round to the nearest whole number asneeded.)
c. Find the indicated prediction interval.
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