Question: The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. All of the diamonds are round with ratings of very good cut,
The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. All of the diamonds are round with ratings of €œvery good€ cut, they all have a color rating of F (€œslight color€), and a clarity rating of VS I (€œvery slightly included€). The values are based on data from the retailer Blue Nile. For diamonds of the type described, is there sufficient evidence to conclude that there is a linear correlation between weights and prices? Do the results also apply to other types of diamonds, such as those with different color and clarity ratings?
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Weight 0.3 0.4 0.5 0.5 1.0 0.7 Price 510 1151 1343 1410 5669 2277
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H 0 0 H 1 0 r 0968 Critical values r 0811 P value 0002 There is sufficient evidence to suppor... View full answer
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