The following table illustrates current prices for a selection of diamonds of various sizes. These diamonds...

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The following table illustrates current prices for a selection of diamonds of various sizes. These diamonds all have the same colour, cut, and clarity, which means that variation in cost is strictly due to size. (One carat equals 0.200 grams) Diamond Size (carats) 0.34 0.41 0.50 0.61 0.70 0.79 0.90 1.02 1.20 1.50 1.70 2.01 4.20 Cost ($) 587 802 1286 1778 2532 3544 4693 6069 8199 13657 15101 23238 131037 1. For the above data, how would you determine if the relationship between the data is linear, quadratic, or exponential. Explain two different methods you could use. (Rubric 2) 2. A regression was completed using on the above data and the linear, quadratic and exponentia equations were determined.. R² = 0.946 Quadratic Equation: R2 = 0.999 R2 = 0.993 Exponential Equation: y = 970.45(3.86)X How would you determine which model (linear, quadratic or exponential) best fits the provided data. Explain and justify your answer. (Rubric 1) Linear Equation: y = 32256.13x - 23054.18 y = 8934.87x²7085.46x +2919.93 3. Jennifer Lopez's engagement ring is about 12 carats. Using the most appropriate regression equation, estimate the cost of the diamond in her ring. (Rubric 1) The following table illustrates current prices for a selection of diamonds of various sizes. These diamonds all have the same colour, cut, and clarity, which means that variation in cost is strictly due to size. (One carat equals 0.200 grams) Diamond Size (carats) 0.34 0.41 0.50 0.61 0.70 0.79 0.90 1.02 1.20 1.50 1.70 2.01 4.20 Cost ($) 587 802 1286 1778 2532 3544 4693 6069 8199 13657 15101 23238 131037 1. For the above data, how would you determine if the relationship between the data is linear, quadratic, or exponential. Explain two different methods you could use. (Rubric 2) 2. A regression was completed using on the above data and the linear, quadratic and exponentia equations were determined.. R² = 0.946 Quadratic Equation: R2 = 0.999 R2 = 0.993 Exponential Equation: y = 970.45(3.86)X How would you determine which model (linear, quadratic or exponential) best fits the provided data. Explain and justify your answer. (Rubric 1) Linear Equation: y = 32256.13x - 23054.18 y = 8934.87x²7085.46x +2919.93 3. Jennifer Lopez's engagement ring is about 12 carats. Using the most appropriate regression equation, estimate the cost of the diamond in her ring. (Rubric 1)