This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the relationship between diamond price and carat size? 307 diamonds were sampled and a ... (Read 60 times)

sheilaspns

  • Hero Member
  • *****
  • Posts: 567
on: Feb 14, 2020
What is the relationship between diamond price and carat size? 307 diamonds were sampled and a straight-line relationship was hypothesized between y = diamond price (in dollars) and x = size of the diamond (in carats). The simple linear regression for the analysis is shown below:

Least Squares Linear Regression of PRICE

Predictor
Variables Coefficient Std Error T P
Constant -2298.36 158.531 -14.50 0.0000
Size 11598.9 230.111 50.41 0.0000

R-Squared 0.8925 Resid. Mean Square (MSE) 1248950
Adjusted R-Squared 0.8922 Standard Deviation 1117.56

Which of the following conclusions is correct when testing to determine if the size of the diamond is a useful positive linear predictor of the price of a diamond?
◦ The sample size is too small to make any conclusions regarding the regression line.
◦ There is insufficient evidence to indicate that the price of the diamond is a useful positive linear predictor of the size of a diamond when testing at α = 0.05.
◦ There is insufficient evidence to indicate that the size of the diamond is a useful positive linear predictor of the price of a diamond when testing at α = 0.05.
◦ There is sufficient evidence to indicate that the size of the diamond is a useful positive linear predictor of the price of a diamond when testing at α = 0.05.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sheilaspns on Feb 14, 2020

elizabethrperez

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


sheilaspns

  • Member
  • Posts: 567
Reply 2 on: Feb 14, 2020
Thanks for the timely response, appreciate it

kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

This map shows the percentage of Protestants by state in Germany. When compared to the previous map This map shows the percentage of Protestants by state in Germany. When compared to the previous map
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Dose-response relationship. As the dose of a drug increases, a maximal response or plateau is ... Dose-response relationship. As the dose of a drug increases, a maximal response or plateau is ...
5-4 The relationship between vapor pressure and temperature—in this case for water. As the ... 5-4 The relationship between vapor pressure and temperature—in this case for water. As the ...
The insulin receptor and its structural relationship to other transmembrane receptors with protein The insulin receptor and its structural relationship to other transmembrane receptors with protein
The urinary system: Relationship of the kidneys to the vertebrae The urinary system: Relationship of the kidneys to the vertebrae
Video: Female Reproductive System - Hormonal regulation (GnRH) الجهاز التناسلي للأنثى - التنظيم الهرموني

For a complete list of videos, visit our video library