variables we haven\'t seen much of. Tabie 2. We have seen the \"Diamonds\" data

Question

variables we haven't seen much of. Tabie 2. We have seen the "Diamonds" data set a few times in class. In this data set there are two and Depth JMP output for four different regression models is given below. For each model, the response Model B: Model A: 4 Parameter Estimates 4Parameter Estimates Term Estimate Std Error t Ratio Prob> It Intercept 61235753 2380.732 257 00102* Depth 3487364 3857101 0.90 03660 Term Estimate Std Error t Ratio Prob Itl Intercept 38790588 1401.548 277 0.0057 Table15971486 2420924 007 09474 Model D Parameter Estimates Model C: ? Parameter Estimates Term Estimate Std Error t Ratio Prob-ld Intercept1660.618 6819971 2435

Explanation / Answer

SolutionA:

Estiamted regression eq for model D is

price=10901.204+6508.3307*caratsize-122.5529*Depth-86.92799*Table

Solutionc:
For Depth in model coefficiet is -122.5529

slope=change in /chnge in x holding others constant

-122.5529=change in price/change in depth

For unit increase in depth, price deocreases by 122.5529

holding carat szie and table constant

OPTION iv

All of the p values are <0.001

Carat size ,Depth and table are significant variables

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