Mathematics, 22.12.2020 02:30 hargunk329
A linear regression model describing the relationship between the carat weight and price of very high quality diamonds is summarized below.
r= 0.9693
y = 20312x - 5939
A diamond seller lists a very high quality diamond weighing 0.8 carats at a price of $9,999. Does this model over- or under-predict the price of this diamond?
a. The model over-predicts the price of this diamond because the residual is positive.
b. The model under-predicts the price of this diamond because the residual is positive.
c. The model over-predicts the price of this diamond because the residual is negative.
d. The model under predicts the price of this diamond because the residual is negative.
e. We do not have enough information to answer this question.
Answers: 2
) is known as the residual (e).
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A linear regression model describing the relationship between the carat weight and price of very hig...
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