Run the diamond regression with all variables simultaneously, then answer the questions:
|1) Based on the regression results, predict the market value of a diamond with the following characteristics:
Weight = 1.5 Carats
Color Grade: E
Clarity Grade: VS1
Cut Category: Good
Submit answer rounded to the nearest dollar without commas or “$”.
2) What percentage of the market price behavior do the regression variables appear to explain?
Use the file below for this exercise:
When done, include the the completed excel worksheet as well