The Table Below Lists Weights (Carats)and Prices (Dollars)for Randomly Selected

Essay

The table below lists weights (carats)and prices (dollars)for randomly selected diamonds.
Find the regression equation, letting the weight be the predictor variable. Find the best
predicted price for a diamond with a weight of 1.50 carats. What is wrong with predicting the
price of a 1.50-carat diamond? $$\begin{array} { | l | l | l | l | l | l | l | } \hline \text { Weight } & 0.3 & 0.4 & 0.5 & 0.5 & 1.0 & 0.7 \\\hline \text { Price } & 510 & 1151 & 1343 & 1410 & 5669 & 2277 \\\hline\end{array}$$