The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. All of the diamonds are round with ratings of very good" cut, they all have a color rating of F (slight color"), and a clarity rating of VSI (very slightly included"). The values are based on data from the retailer Blue Nile. Weight 0.3 0.4 0.5 0.5 1.0 0.7 Price 510 1151 1343 1410 5669 2277 Use a 95% confidence level to find the prediction interval for the price of a diamond that weights 0.8 carats $2551

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
The table below lists weights (carats) and prices (dollars) of randomly selected diamonds.
All of the diamonds are round with ratings of very good" cut, they all have a color rating of F (slight color"),
and a clarity rating of VSI (very slightly included").
The values are based on data from the retailer Blue Nile.
Weight 0.3 0.4 0.5 0.5 1.0
0.7
Price
510 1151 1343 1410 5669 2277
Use a 95% confidence level to find the prediction interval for the price of a diamond that weights 0.8 carats.
$2551 <y< $4919
$2051 y < $5419
$2050.75 << $5418.53
Transcribed Image Text:The table below lists weights (carats) and prices (dollars) of randomly selected diamonds. All of the diamonds are round with ratings of very good" cut, they all have a color rating of F (slight color"), and a clarity rating of VSI (very slightly included"). The values are based on data from the retailer Blue Nile. Weight 0.3 0.4 0.5 0.5 1.0 0.7 Price 510 1151 1343 1410 5669 2277 Use a 95% confidence level to find the prediction interval for the price of a diamond that weights 0.8 carats. $2551 <y< $4919 $2051 y < $5419 $2050.75 << $5418.53
Expert Solution
steps

Step by step

Solved in 4 steps with 18 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman