2 part lab

Part 1: Description of Assignment This exercise develops a multi-variable equation that estimates the market price of diamonds based on the “4Cs” of diamond valuation: Carat, Color, Clarity, Cut.Use the attached data file. The data is from a very old edition of the Diamond Buyer’s Guide. [Don’t do it for this exercise, but one can adjust for inflation by (1 average inflation rate)^(number of compounding years) ] Discussion and Suggested ApproachWe have numeric (ratio) and non-numeric (categorical) data appearing in the first worksheet of the attached workbook. Tables are provided to code the non-numeric data (substitute a number for a categorical variable) on the second worksheet.On the third worksheet, a blank coding table is provided with the first row already coded properly using the “vlookup” function.You may code this worksheet manually OR let Excel perform the “heavy lifting” by using the “vlookup” function*. Toggle it into formula view to function and its syntax. Note that the numeric data is referenced directly. *CAUTION: Understand this function! It is introduced again in Chapter 10. Development and InterpretationConfigure the regression tool to include the “4C’s.INPUT Options: Perform a regression and inculde the column labels from the data table. OUPUT Options: Set the ouput on a New Worksheet Ply named Regression Specify all residual options and the normal probability plot. Using Yellow highlight, highlight the cells that you referenced in your regression report to answer the questions below.[A] Linear Equation — Develop a regression equation using the data provided based on the “4Cs” and estimate the market price of a diamond based on the parameters below (1 points 2 for follow-on Q): Weight = 1.5 CaratsColor Grade: EClarity Grade: VS1Cut Category: Good Use Excel to perform the above sumproduct computation. [B] Fit — Determine the error and what proportion of the total variation in the market price of diamonds that the model’s selected regression variables explain. [C] Statistical Significance — Determine which regression variables are statistically significant and determine which one (parameter) you would eliminate, if any, if it was necessary to further refine the model. [D] Residual Analysis — Determine which sample observation represents the best value from the buyer’s perspective and the largest windfall from the seller’s perspective (when sold). [E] Statistical Inference –Detemine if the model developed from this set of sample data could be applied to the general population. Part 2: Once you’ve developed your model based on the instructions in Step 1 (Excel file), validate your results and your interpretations by answering the questions.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Graduate Assistants, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Graduate Assistants has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.


Essay Writing Services

At Graduate Assistants, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.