The course project involves analyzing data from Tiffany & Co's 2017 price list to understand the relationship between diamond characteristics and their prices. Below is a detailed step-by-step guide on how to complete the project: 1. Data Source: The data for this project is provided in the file "ProjectData.xlsx," which you can download from the assignment page. 2. Opening Excel: Open Microsoft Excel on your computer. 3. Importing Data: Click on "File" > "Open" and select the "ProjectData.xlsx" file. This file contains two sheets: "VS1" and "I1," each with diamond information. 4. Creating a New Sheet: Open a new sheet in Excel and rename it as "Part A." 5. Copying Price Data: Go to the "VS1" sheet, copy the prices from column G, and paste them into the "Part A" sheet. Rename the first row of this column as "VS1" to indicate the source of the prices. Repeat the same process for the "I1" sheet, copying prices from column G and pasting them into the "Part A" sheet, starting from the second row. Rename the first row of this column as "I1." 6. Descriptive Statistics: Select the "Data" tab in Excel and click on "Data Analysis." Choose "Descriptive Statistics" and click "OK." Set the input range as "$A$1:$B$1001" (assuming you have 1000 data points). Check the box for "Labels in first row" and "Summary statistics" and click "OK." Excel will generate descriptive statistics for both the "VS1" and "I1" data. 7. Regression Analysis: Repeat the process to access the "Regression" tool in the Data Analysis Tool Pak. Set the input Y range as "$G$1:$G$1001" (price) and the input X range as "$A$1:$A$1001" (carat). Check the box for labels and use the default significance level of 0.05. Excel will perform the regression analysis and display the results.