57620748-J&J Diamond in American Dream

J&J Diamond in American Dream Institution Affiliation Professor’s name Course name Student’s name Date

a) Develop a box of the variable Price and comment on the result. Are there any outliers? Any data point that falls below the Lower Bound or above the Upper Bound is considered an outlier. In this case, there are four outliers for example especially the data point of $44,312.00, which lies significantly above the third quartile. What is the median price? What are the values of the first and third quartiles? Minimum: $896.00 First Quartile (Q1): $1,397.00 Median (Q2): $3,732.00 (average of the two middle values: $3,733.00 and $3,808.00) Third Quartile (Q3): $7,038.00 Maximum: $44,312.00

The box itself is relatively small, indicating that the majority of the data is concentrated within a narrow range. c) Develop a scatter plot diagram between the variables price and size. Be sure to put price on the vertical axis and size on the horizontal axis . Does there seem to be an association between the two variables? Is the association direct or indirect? Does any point seem to be different from the others? From the scatter plot, we can observe that there seems to be a positive correlation between Price and Size. As the Size (carats) of the diamond increases, the Price also tends to increase. However, it is not a perfect correlation, as there are some variations in Price even for diamonds of similar sizes.

d) Develop a contingency table for the variables shape and cut grade. Shape * Cut Grade Crosstabulation Count Cut Grade Total Ideal cut Premium cut Average cut Good cut Ultra Ideal cut Shape Princess 2 1 1 0 0 4 Round 4 13 1 4 2 24 Emerald 0 0 0 0 1 1 Marquise 0 2 0 1 0 3 Oval 0 1 0 0 0 1 Total 6 17 2 5 3 33 What is the most common cut grade? Premium cut.13 What is the most common shape? Round 4 What is the most common combination of cut grade and shape? The most common combination of Cut Grade and Shape is "Premium cut" for "Round" diamonds, which appears 13 times in the data