An appraiser is studying the market price of a certain type of gem. He collects information on 8 gems, recording their c

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An appraiser is studying the market price of a certain type of gem. He collects information on 8 gems, recording their c

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An Appraiser Is Studying The Market Price Of A Certain Type Of Gem He Collects Information On 8 Gems Recording Their C 1
An Appraiser Is Studying The Market Price Of A Certain Type Of Gem He Collects Information On 8 Gems Recording Their C 1 (30.23 KiB) Viewed 83 times
An appraiser is studying the market price of a certain type of gem. He collects information on 8 gems, recording their carat weight as well as their prices. The results are summarized in the table below *(Carats) (Price) 0.7 $892 0.9 $1836 $1530 1 1.1 $2337 1.3 1.5 $1878 $2805 $3128 1.6 1.8 $2907 1000 y 3000 2000 1000 02 0.4 0.6 0.8 1 12 14 16 18 23 24 1. Find the equation of the least squares regression line. Round to 2 decimal places. ii. Use the regression line from parti to predict the market price of a gem of this type weighing 1.7 carats. Round your answer to the nearest dollar a
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