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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 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?

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 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?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Carat H H Cut 0.8 Very Good 0.74 Ideal 2.03 Premium 0.41 Ideal G 1.54 Premium G 0.3 Ideal E 0.3 Ideal H 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 1 Good F 0.37 Ideal F 0.55 Ideal 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 F 0.32 Ideal G 0.4 Very Good 0.71 Ideal 0.3 Ideal 1.31 Very Good I 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 2.03 Premium 1 Premium 0.38 Premium 0.41 Very Good G 0.49 Ideal 0.71 Premium 1.51 Ideal F 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 G 0.52 Ideal E 0.41 Very Good J E 1 Ideal 0.33 Premium 0.75 Ideal G E 0.26 Very Good E 0.34 Ideal D 1.49 Ideal F 0.3 Ideal H I 0.4 Ideal 0.71 Ideal F D 0.92 Ideal 0.7 Ideal G 0.55 Premium G 1.47 Premium J 0.42 Premium G E 0.58 Premium 0.44 Ideal F 0.31 Ideal E 0.3 Ideal 0.55 Ideal 0.41 Very Good G 0.31 Ideal 0.33 Premium 0.32 Ideal 2.67 Good F 0.88 Premium G G 0.57 Premium G 0.36 Premium F 0.53 Ideal 0.79 Premium E 0.9 Very Good F 0.31 Good 1.03 Ideal 0.39 Fair G H G F 0.51 Ideal 0.34 Ideal F 0.25 Very Good H I E E F HGIDD GEDE UDGG: H Color I Clarity VVS1 IF SI1 VVS1 VS1 VS2 VVS2 SI1 VS2 VS2 VS1 SI1 VS2 IF SI2 SI2 VS1 SI2 VS2 VVS1 SI2 VS2 VVS2 VS2 SI2 VVS2 VVS2 SI1 11 VS2 SI2 VS2 SI1 VS2 IF SI2 VS1 VS1 VVS1 SI1 VS1 SI1 VS2 VS2 SI2 SI1 VS1 VVS2 VVS1 SI1 SI2 VS2 VS2 S12 SI1 S12 S12 SI1 S12 VVS1 VS1 VS1 SI1 VVS2 S12 VVS2 VS2 VVS1 VS2 VVS2 VVS1 SI1 S12 S12 SI1 SI2 VS2 VS2 VS1 VVS2 VS2 VVS1 SI2 VS2 VVS1 VS2 VS1 SI2 VS2 VS1 SI1 VS2 VS2 SI1 VS1 SI1 IF VS1 VS1 VVS2 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 59.6 57.6 59.8 60.7 62.6 65.1 59.7 60.5 59.9 60.7 62.3 61.9 59.2 62.4 63 60.1 61.7 62 62.4 61.7 61.9 63.2 63.3 63.1 61 62.2 60.7 63.1 61.8 60.9 61.7 62.9 62 61.1 61.8 61.8 59.9 61.9 61.9 61.8 61.5 60.6 60.7 60.9 61.8 60.4 61.3 61.4 61.4 62.3 62.1 63.8 61.1 60.5 62.3 60.4 59.4 63.4 63.2 62.2 57.1 61.9 62.2 63.3 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 5582 1144 945 2156 6066 13442 918 16483 4928 941 899 2199 4234 11950 4162 6442 702 8810 1561 4548 4586 5516 858 6623 491 1125 1656 754 4743 965 3150 599 1033 18614 665 573 2161 2840 2310 1280 7203 847 2105 1196 872 464 1272 800 772 668 605 18686 3400 1746 770 1607 3230 3898 625 5005 1127 1744 956 467
Transcribed Image Text:Carat H H Cut 0.8 Very Good 0.74 Ideal 2.03 Premium 0.41 Ideal G 1.54 Premium G 0.3 Ideal E 0.3 Ideal H 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 1 Good F 0.37 Ideal F 0.55 Ideal 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 F 0.32 Ideal G 0.4 Very Good 0.71 Ideal 0.3 Ideal 1.31 Very Good I 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 2.03 Premium 1 Premium 0.38 Premium 0.41 Very Good G 0.49 Ideal 0.71 Premium 1.51 Ideal F 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 G 0.52 Ideal E 0.41 Very Good J E 1 Ideal 0.33 Premium 0.75 Ideal G E 0.26 Very Good E 0.34 Ideal D 1.49 Ideal F 0.3 Ideal H I 0.4 Ideal 0.71 Ideal F D 0.92 Ideal 0.7 Ideal G 0.55 Premium G 1.47 Premium J 0.42 Premium G E 0.58 Premium 0.44 Ideal F 0.31 Ideal E 0.3 Ideal 0.55 Ideal 0.41 Very Good G 0.31 Ideal 0.33 Premium 0.32 Ideal 2.67 Good F 0.88 Premium G G 0.57 Premium G 0.36 Premium F 0.53 Ideal 0.79 Premium E 0.9 Very Good F 0.31 Good 1.03 Ideal 0.39 Fair G H G F 0.51 Ideal 0.34 Ideal F 0.25 Very Good H I E E F HGIDD GEDE UDGG: H Color I Clarity VVS1 IF SI1 VVS1 VS1 VS2 VVS2 SI1 VS2 VS2 VS1 SI1 VS2 IF SI2 SI2 VS1 SI2 VS2 VVS1 SI2 VS2 VVS2 VS2 SI2 VVS2 VVS2 SI1 11 VS2 SI2 VS2 SI1 VS2 IF SI2 VS1 VS1 VVS1 SI1 VS1 SI1 VS2 VS2 SI2 SI1 VS1 VVS2 VVS1 SI1 SI2 VS2 VS2 S12 SI1 S12 S12 SI1 S12 VVS1 VS1 VS1 SI1 VVS2 S12 VVS2 VS2 VVS1 VS2 VVS2 VVS1 SI1 S12 S12 SI1 SI2 VS2 VS2 VS1 VVS2 VS2 VVS1 SI2 VS2 VVS1 VS2 VS1 SI2 VS2 VS1 SI1 VS2 VS2 SI1 VS1 SI1 IF VS1 VS1 VVS2 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 59.6 57.6 59.8 60.7 62.6 65.1 59.7 60.5 59.9 60.7 62.3 61.9 59.2 62.4 63 60.1 61.7 62 62.4 61.7 61.9 63.2 63.3 63.1 61 62.2 60.7 63.1 61.8 60.9 61.7 62.9 62 61.1 61.8 61.8 59.9 61.9 61.9 61.8 61.5 60.6 60.7 60.9 61.8 60.4 61.3 61.4 61.4 62.3 62.1 63.8 61.1 60.5 62.3 60.4 59.4 63.4 63.2 62.2 57.1 61.9 62.2 63.3 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 5582 1144 945 2156 6066 13442 918 16483 4928 941 899 2199 4234 11950 4162 6442 702 8810 1561 4548 4586 5516 858 6623 491 1125 1656 754 4743 965 3150 599 1033 18614 665 573 2161 2840 2310 1280 7203 847 2105 1196 872 464 1272 800 772 668 605 18686 3400 1746 770 1607 3230 3898 625 5005 1127 1744 956 467
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 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
Transcribed Image Text: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 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
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