QQ3. Diamond Prices Weight XXXXXXXXXX 0.7 Price XXXXXXXXXX XXXXXXXXXX Find the best predicted price for this diamond with a weight of 1.50 carats. Is the result close to the actual price of $16,097?...

QQ3. Diamond Prices
Weight 0.3 0.4 0.5 0.5 1.0 0.7
Price 510 1151 1343 1410 5669 2277
Find the best predicted price for this diamond with a weight of 1.50 carats. Is the result close to
the actual price of $16,097? What is wrong with predicting the price of a 1.50-carat diamond?

a) Find the value of the linear correlation coefficient ?
b) Find the critical values of r from table A-6 using ∝= 0.05
c) Determine whether there is sufficient evidence to support a claim of a linear correlation
Between the two variables.