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

Author Question: Interpret the slope of your model in context. What will be an ideal ... (Read 69 times)

khang

  • Hero Member
  • *****
  • Posts: 569
on: Jul 25, 2018
Interpret the slope of your model in context.
 
  What will be an ideal response?

Question 2

Create a model to predict diamond costs from the size of the diamond.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 25, 2018
Answer to Question 1

The slope of the model is 8225.1. The model predicts that for each additional carat, the cost of the diamond will increase by 8225.10, on average. This can also be interpreted as for each additional 0.01 carat, the cost of the diamond will increase by 82.251, on average.

Answer to Question 2

The regression equation is
2004 US  = -559 + 8225 Carat

Predictor Coef SE Coef T P
Constant -558.52 57.88 -9.65 0.000
Carat 8225.1 239.1 34.40 0.000

S = 64.9355 R-Sq = 98.7 R-Sq(adj) = 98.7

Predicted cost = -558.52 + 8225.1(carat)


khang

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Jul 25, 2018
Thanks


rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #3 on: Jul 25, 2018
Welcome :)


« previous next »
 

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

A Mental Model of the Craftsman Experiment A Mental Model of the Craftsman Experiment
Culture in a Global Context Culture in a Global Context
A model for kinetochore structure and organization A model for kinetochore structure and organization
Effect of Productivity Improvement in the Malthusian Model Effect of Productivity Improvement in the Malthusian Model
Breakdown of the Malthusian Model in Western Europe Breakdown of the Malthusian Model in Western Europe
Vulnerability – Stress Model Vulnerability – Stress Model
Video: Oogenesis Animation

For a complete list of videos, visit our video library