Task: Diamonds If you were in the diamond business, or if you are looking to purchase a diamond, you need to know how to price diamonds accurately. Otherwise, you would be losing money by selling too low or losing customers by selling to high. Having some sort of “price ruler” can be very useful. In this task, you will examine data for the most extravagant diamonds on the market and begin building a price ruler.

Read about the 4 Cs of Diamonds (cut, color, clarity, and carat weight) for some background information. Then, look for trends in the pricing of diamonds that have VVS1 clarity and weigh more than 1.00 carat. Examine the data for these extravagant diamonds in the I1a-10 Unit Activity Data Set 2 spreadsheet.

[15 points] Generate a scatter plot of the weight versus price of these diamonds using the Scatter Plot Applet and paste or attach an image of the scatter plot in the box below. Note that you can copy a column of data from the spreadsheet and paste it into the Data box in the Applet. Label the x- and y-axes.