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Essay

Canada Diamonds

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Linda M

 

Date added:

March 23, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

8 / 2228

 

Was viewed:

3935 times

 

Rating of current essay:

 
Essay content:

After analyzing our random sample, we will apply our knowledge of model building to recommend the equation that we believe best predicts the prices of diamonds. Statistical Methods used for Analysis After collecting the data (a random sample of 44 out of 183 round diamonds between 0.4 and 1.6 carat, and 6 out of 25 princess cut diamonds of the same carat range) the first action we had to do was transform the data from a test to numerical format in order to use it in determining a model for regression...
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The predictors for price that were given in text format on www.canadadiamonds.com were: Color, Cut, and Clarity. For Color and Clarity we were able to use a scale provided on the case sheet as these were scaled variables, as in there were better versus worse clarities of diamonds, and common to rare colors...
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