Econometric Project on Diamonds

Sacha Froelich ECO 4421.001 Project Diamond December 2, 2011 look Questions: When viewing diamonds, how is price primed(p)? The characteristic response is the 4 Cs (carat, color, clarity, and cut). I fatality to see how accurate and historic the carat, color, and clarity argon in determining price. Ideally, I valued to bring into bring in the reliability of different Gemmological rate plainly as I couldnt keep an eye on information that allowed for direct comparison expend the same group of diamonds, I had to go with this modified portent of diamond prices instead. Dataset Description: N = 180 observations Y = Price, in dollars X1 = karat, weight/size of a diamond with 1 karat = 0.2 grams; my range being 0.5 to 1.01 carats X2 = Color, which go away be further hapless down into: D=1, E=2, F=3, G=4, H=5, and I=6 X3 = Clarity, again humble into: 1IF=18, 2VVS1=19, 3VVS2=21, 4VS1=22, and 5VS2=23 (these values were railroad line car generated by STATA as 1-6 were already interpreted (Im crack from my Clarity) it originally gave me 7-11 but as I had to manage the articulate in which they appeared because it unbroken taking it alphabetically which threw eat up my scale, thitherfrom the 1IF vs.

IF each new agglomerate gave a numerical subsidization that went further down the thruway which is how I/STATA arrived at the verse given) The data was used as part of Statistix 9.0 software when I took Stats II in forge of 2011 and originally was published in Singapores telephone line Times edition on February 18, 2000. I have taken a portion of it present for my use. I attempted to find more current data but couldnt dig up anything that was free. See: http://www.amstat.org/publications/jse/jse_data_archive.htm My stupefy: I would assume that the Multiple additive Regression (MLR) would be the take up model. I do target that Price is hooklike upon the Carat size, Color, and Clarity. I do deliver to see a powerful positive relationship among these variables and the price. Although, I do see that Cut is also a deciding factor, it wint...If you compulsion to get a complete essay, order it on our website: Ordercustompaper.com

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