7. The chart comes from the diamonds dataset, and shows the relationship between the carat and price variables for the lowest quality diamonds. The pation for the regression line is v-4234r-2158 (n) price (c) 10000 5000 carat Give an interpretation of the intercept here; is it meaningful? (b)) Give an interpretation of the slope here; is it meaningful? What is the residual for the point (1.17,2774)?

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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7. The chart comes from the diamonds dataset, and shows the relationship between the carat
and price variables for the lowest quality diamonds. The exation for the regression line is
y-4234r-2158.
15000-
(c)
10000-
carat
Give an interpretation of the intercept here; is it meaningful?
(b)) Give an interpretation of the slope here; is it meaningful?
>What is the residual for the point (1.17,2774)?
Transcribed Image Text:7. The chart comes from the diamonds dataset, and shows the relationship between the carat and price variables for the lowest quality diamonds. The exation for the regression line is y-4234r-2158. 15000- (c) 10000- carat Give an interpretation of the intercept here; is it meaningful? (b)) Give an interpretation of the slope here; is it meaningful? >What is the residual for the point (1.17,2774)?
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