Question

The prices of some diamonds of different sizes are

given in the table at the right.
a) Find an exponential regression model for this data
(Round 2 decimal places)
b) According to your model, what would be the price of
a 2-carat diamond? (Round to the nearest dollar)
Submit
Weights (carats)
0.25
0,40
0.55
0.80
1.25
1.65
Price
$504
$1040
$1925
$3680
$10000
$18150

Answer 1

Explanation:

The exponential model is y=A*B^x

Enter the data into the calculator and press exponential regression.

The values of A and B are A=391.353785 and B=11.91690943

so, the exponential regression model is,

y=(391.3538)*(11.9169)^x