Question: This data table contains the listed prices and weights of the diamonds in 48 rings offered for sale in The Singapore Times. The prices are

This data table contains the listed prices and weights of the diamonds in 48 rings offered for sale in The Singapore Times. The prices are in Singapore dollars, with the weights in carats. Formulate the regression model with price as the response and weight as the explanatory variable.
(a) Could these data be a sample from a population in which the population intercept is zero? Should β0 = 0?
(b) Is $800 an unusually high price for a ring with a diamond that weighs 0.25 carat?

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