Price of diamond depends on a variety of factors such as clarity, weight, cut as
well as color. The data table provides a sample of 93 diamond pieces in terms of its
price and weight. Run the following simple regression model with price as response
variable and wright as independent variable and answer the questions:

a) Create a scatterplot and describe the association between the two variables in JMP
(Print screen)
b) Estimate the linear equation using ordinary least squares and interpret the intercept
and slope with appropriate units (Print Screen)
c) Interpret R square and root mean square error (RMSE) associated with the fitted
equation.
d) What does the p value for the slope term tell us? (ch