Problem 1: A diamond's price is determined by the Five Cs: cut, clarity, color, depth, and carat weight. Use the data in
Posted: Sun Jun 05, 2022 11:55 am
Problem 1:
A diamond's price is determined by the Five Cs: cut, clarity,
color, depth, and carat weight. Use the data in the attached excel
file “Diamond data assignment ” :
1)To develop a linear regression model to show the effect of
Carat on Price. What is the expected price of a 1.85 carat
diamond?
2)To develop a linear regression model to show the effect of
depth on Price. What is the expected price of a diamond having a
depth of 62.5?
•Use the diamond's price as the dependent variable).(Do this
manually as well as using a software. Hint: Work smart not hard for
the manual part and show screen shot for what you have done and
how)
•Comment on the adequacy of the regression model
*NOTE: these are all one set of data, I organized it this
way so I take 1 picture of whole of the data
Carat Cut 0.8 Very Good H 0.74 Ideal H 2.03 Premium I 0.41 Ideal G 1.54 Premium G 0.3 Ideal E H 0.3 Ideal 1.2 Ideal D 0.58 Ideal E 0.31 Ideal H 1.24 Very Good F 0.91 Premium H 1.28 Premium G 0.31 Ideal G 1.02 Premium F F 1 Good 0.37 Ideal 0.55 Ideal F F 0.54 Premium G 0.34 Ideal E 0.91 Good E 0.9 Ideal H 0.5 Ideal G 0.31 Premium D 1.66 Ideal F 0.47 Premium E 0.3 Ideal H 0.7 Very Good J 1.72 Very Good F 0.41 Ideal G 1.06 Premium 0.32 Ideal G 0.4 Very Good E 0.71 Ideal E 0.3 Ideal F 1.31 Very Good l Color Clarity VVS1 IF SI1 VVS1 VS1 VS2 VVS2 SI1 VS2 VS2 VS1 SI1 VS2 IF S12 S12 VS1 S12 VS2 VVS1 S12 VS2 VVS2 VS2 S12 VVS2 VVS2 SI1 11 VS2 S12 VS2 SI1 VS2 IF S12 F Depth 62.9 60.9 61.4 62.1 61.1 61.8 61.5 61.8 62.3 62.6 59 62.8 62.2 62.7 59.9 60.2 61.7 62.4 62.7 61.9 63.1 62.7 62.8 62 62.6 60.5 61.1 62 60.5 62.7 62 61.8 62.8 62.7 62.6 63.5 Price 4468 3760 15683 1151 14438 795 605 7508 1809 489 9885 3669 9032 924 4162 4386 1041 1263 1422 1084 3520 4072 1935 734 10338 1833 605 1619 6962 1061 4656 561 707 2891 886 5612 Carat Cut 1.08 Premium H 0.45 Good F 0.3 Premium G 0.62 Ideal E 1.01 Premium F 2 Fair H 0.38 Premium G 2.03 Premium I 1 Premium D 0.38 Premium D 0.41 Very Good G 0.49 Ideal E 0.71 Premium D F 1.51 Ideal 1.02 Very Good F 1.3 Premium I 0.32 Ideal E 1.52 Premium E 0.59 Premium F 1.31 Premium H 1.05 Ideal H 1.08 Very Good H 0.43 Very Good D 1.08 Very Good H 0.3 Ideal I 0.4 Ideal 0.52 Ideal G E 0.41 Very Good J 1 Ideal E 0.33 Premium G 0.75 Ideal E 0.26 Very Good E 0.34 Ideal D 1.49 Ideal F 0.3 Ideal H 0.4 Ideal 0.71 Ideal OL I Color F Clarity Depth Price VS1 59.6 5582 VS1 57.6 1144 VVS1 59.8 945 SI1 60.7 2156 VS1 62.6 SI1 65.1 VS2 6066 13442 918 16483 4928 941 59.7 60.5 59.9 VS2 S12 SI1 VS1 60.7 62.3 VVS2 VVS1 SI1 S12 61.9 59.2 62.4 63 60.1 61.7 62 62.4 VS2 899 2199 4234 11950 4162 6442 702 8810 1561 4548 4586 VS2 S12 SI1 S12 61.7 S12 61.9 SI1 63.2 5516 S12 63.3 VVS1 63.1 VS1 61 VS1 62.2 60.7 SI1 VVS2 63.1 S12 61.8 VVS2 60.9 VS2 61.7 VVS1 62.9 VS2 62 VVS2 61.1 VVS1 61.8 SI1 61.8 S12 59.9 858 6623 491 1125 1656 754 4743 965 3150 599 1033 18614 665 573 2161 Carat Cut Color 0.92 Ideal D 0.7 Ideal G 0.55 Premium G 1.47 Premium J 0.42 Premium G 0.58 Premium E 0.44 Ideal F 0.31 Ideal E 0.3 Ideal J 0.55 Ideal D 0.41 Very Good G 0.31 Ideal G 0.33 Premium H 0.32 Ideal I 2.67 Good F 0.88 Premium G 0.57 Premium G 0.36 Premium F 0.53 Ideal G 0.79 Premium E 0.9 Very Good F 0.31 Good G 1.03 Ideal H 0.39 Fair G F 0.51 Ideal 0.34 Ideal F 0.25 Very Good H Clarity Depth Price 61.9 2840 S12 SI1 61.9 2310 S12 61.8 1280 61.5 7203 VS2 VS2 VS1 60.6 847 60.7 2105 60.9 1196 61.8 872 60.4 464 VVS2 VS2 VVS1 S12 VS2 VVS1 61.3 1272 61.4 800 61.4 772 62.3 668 62.1 605 VS2 VS1 S12 VS2 VS1 63.8 18686 61.1 3400 60.5 1746 SI1 770 62.3 60.4 VS2 1607 VS2 59.4 3230 SI1 63.4 3898 625 VS1 63.2 SI1 62.2 5005 IF 57.1 1127 61.9 1744 VS1 VS1 VVS2 62.2 956 63.3 467
A diamond's price is determined by the Five Cs: cut, clarity,
color, depth, and carat weight. Use the data in the attached excel
file “Diamond data assignment ” :
1)To develop a linear regression model to show the effect of
Carat on Price. What is the expected price of a 1.85 carat
diamond?
2)To develop a linear regression model to show the effect of
depth on Price. What is the expected price of a diamond having a
depth of 62.5?
•Use the diamond's price as the dependent variable).(Do this
manually as well as using a software. Hint: Work smart not hard for
the manual part and show screen shot for what you have done and
how)
•Comment on the adequacy of the regression model
- Problem 1 A Diamond S Price Is Determined By The Five Cs Cut Clarity Color Depth And Carat Weight Use The Data In 1 (83.79 KiB) Viewed 32 times
way so I take 1 picture of whole of the data
Carat Cut 0.8 Very Good H 0.74 Ideal H 2.03 Premium I 0.41 Ideal G 1.54 Premium G 0.3 Ideal E H 0.3 Ideal 1.2 Ideal D 0.58 Ideal E 0.31 Ideal H 1.24 Very Good F 0.91 Premium H 1.28 Premium G 0.31 Ideal G 1.02 Premium F F 1 Good 0.37 Ideal 0.55 Ideal F F 0.54 Premium G 0.34 Ideal E 0.91 Good E 0.9 Ideal H 0.5 Ideal G 0.31 Premium D 1.66 Ideal F 0.47 Premium E 0.3 Ideal H 0.7 Very Good J 1.72 Very Good F 0.41 Ideal G 1.06 Premium 0.32 Ideal G 0.4 Very Good E 0.71 Ideal E 0.3 Ideal F 1.31 Very Good l Color Clarity VVS1 IF SI1 VVS1 VS1 VS2 VVS2 SI1 VS2 VS2 VS1 SI1 VS2 IF S12 S12 VS1 S12 VS2 VVS1 S12 VS2 VVS2 VS2 S12 VVS2 VVS2 SI1 11 VS2 S12 VS2 SI1 VS2 IF S12 F Depth 62.9 60.9 61.4 62.1 61.1 61.8 61.5 61.8 62.3 62.6 59 62.8 62.2 62.7 59.9 60.2 61.7 62.4 62.7 61.9 63.1 62.7 62.8 62 62.6 60.5 61.1 62 60.5 62.7 62 61.8 62.8 62.7 62.6 63.5 Price 4468 3760 15683 1151 14438 795 605 7508 1809 489 9885 3669 9032 924 4162 4386 1041 1263 1422 1084 3520 4072 1935 734 10338 1833 605 1619 6962 1061 4656 561 707 2891 886 5612 Carat Cut 1.08 Premium H 0.45 Good F 0.3 Premium G 0.62 Ideal E 1.01 Premium F 2 Fair H 0.38 Premium G 2.03 Premium I 1 Premium D 0.38 Premium D 0.41 Very Good G 0.49 Ideal E 0.71 Premium D F 1.51 Ideal 1.02 Very Good F 1.3 Premium I 0.32 Ideal E 1.52 Premium E 0.59 Premium F 1.31 Premium H 1.05 Ideal H 1.08 Very Good H 0.43 Very Good D 1.08 Very Good H 0.3 Ideal I 0.4 Ideal 0.52 Ideal G E 0.41 Very Good J 1 Ideal E 0.33 Premium G 0.75 Ideal E 0.26 Very Good E 0.34 Ideal D 1.49 Ideal F 0.3 Ideal H 0.4 Ideal 0.71 Ideal OL I Color F Clarity Depth Price VS1 59.6 5582 VS1 57.6 1144 VVS1 59.8 945 SI1 60.7 2156 VS1 62.6 SI1 65.1 VS2 6066 13442 918 16483 4928 941 59.7 60.5 59.9 VS2 S12 SI1 VS1 60.7 62.3 VVS2 VVS1 SI1 S12 61.9 59.2 62.4 63 60.1 61.7 62 62.4 VS2 899 2199 4234 11950 4162 6442 702 8810 1561 4548 4586 VS2 S12 SI1 S12 61.7 S12 61.9 SI1 63.2 5516 S12 63.3 VVS1 63.1 VS1 61 VS1 62.2 60.7 SI1 VVS2 63.1 S12 61.8 VVS2 60.9 VS2 61.7 VVS1 62.9 VS2 62 VVS2 61.1 VVS1 61.8 SI1 61.8 S12 59.9 858 6623 491 1125 1656 754 4743 965 3150 599 1033 18614 665 573 2161 Carat Cut Color 0.92 Ideal D 0.7 Ideal G 0.55 Premium G 1.47 Premium J 0.42 Premium G 0.58 Premium E 0.44 Ideal F 0.31 Ideal E 0.3 Ideal J 0.55 Ideal D 0.41 Very Good G 0.31 Ideal G 0.33 Premium H 0.32 Ideal I 2.67 Good F 0.88 Premium G 0.57 Premium G 0.36 Premium F 0.53 Ideal G 0.79 Premium E 0.9 Very Good F 0.31 Good G 1.03 Ideal H 0.39 Fair G F 0.51 Ideal 0.34 Ideal F 0.25 Very Good H Clarity Depth Price 61.9 2840 S12 SI1 61.9 2310 S12 61.8 1280 61.5 7203 VS2 VS2 VS1 60.6 847 60.7 2105 60.9 1196 61.8 872 60.4 464 VVS2 VS2 VVS1 S12 VS2 VVS1 61.3 1272 61.4 800 61.4 772 62.3 668 62.1 605 VS2 VS1 S12 VS2 VS1 63.8 18686 61.1 3400 60.5 1746 SI1 770 62.3 60.4 VS2 1607 VS2 59.4 3230 SI1 63.4 3898 625 VS1 63.2 SI1 62.2 5005 IF 57.1 1127 61.9 1744 VS1 VS1 VVS2 62.2 956 63.3 467