1. pg| 163 Diamonds are forever... and costly! The table gives the price (in dollars) and weight (in carats) for 15 randomly selected round, clear, internally flawless diamonds with excellent cuts.72 Carat 0.50 3.61 1.21 1.74 0.31 3.56 1.51 3.01 1.04 1.20 1.10 1.08 1.61 1.29 1.13 Price ($) 4070 365,700 30,315 57,282 1404 329,613 45,928 229,509 24,679 24,855 25,127 24,026 47,126 32,315 25,075 (a) Calculate a quadratic model for these data using carat weight as the explanatory variable. (b) Sketch the scatterplot, along with the quadratic model. (c) Calculate and interpret the residual for the diamond that weighed 3.61 carats.

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1.
pg| 163
Diamonds are forever... and costly! The table gives the price (in
dollars) and weight (in carats) for 15 randomly selected round, clear,
internally flawless diamonds with excellent cuts.
72
Carat
0.50
3.61
1.21
1.74
0.31
3.56
1.51
3.01
1.04
1.20
1.10
1.08
1.61
1.29
1.13
Price ($)
4070
365,700
30,315
57,282
1404
329,613
45,928
229,509
24,679
24,855
25,127
24,026
47,126
32,315
25,075
(a) Calculate a quadratic model for these data using carat weight as the
explanatory variable.
(b)
Sketch the scatterplot, along with the quadratic model.
(c) Calculate and interpret the residual for the diamond that weighed 3.61
carats.
Transcribed Image Text:1. pg| 163 Diamonds are forever... and costly! The table gives the price (in dollars) and weight (in carats) for 15 randomly selected round, clear, internally flawless diamonds with excellent cuts. 72 Carat 0.50 3.61 1.21 1.74 0.31 3.56 1.51 3.01 1.04 1.20 1.10 1.08 1.61 1.29 1.13 Price ($) 4070 365,700 30,315 57,282 1404 329,613 45,928 229,509 24,679 24,855 25,127 24,026 47,126 32,315 25,075 (a) Calculate a quadratic model for these data using carat weight as the explanatory variable. (b) Sketch the scatterplot, along with the quadratic model. (c) Calculate and interpret the residual for the diamond that weighed 3.61 carats.
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