Question 1
One of the claims in the diamond market is that the rating agencies have influenced the rating of diamonds according to their clarity. You are required to conduct the relevant statistical technique to prove or disprove that claim.
In the diamond market, it is always argued that diamond price is associated with diamond weight. Provide statistical evidence to prove or disprove that argument.
Question 2
Another argument in the diamond market is that diamond price is predicted by diamond weight. Provide statistical evidence to prove or disprove that argument.
A fourth argument is that diamond weight is not the sole predictor of diamond price. Diamond color and clarity are also significant predictors of diamond price. Provide statistical evidence to prove or disprove that argument.
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