Discuss the below:
Task: McGivern Jewellers is located in the Levis Square Mall just south of Toledo, Ohio. Recently it ran an advertisement in the local newspaper reporting the shape, size, price, and cut grade for 33 of its diamonds currently in stock. The information is reported in the attached Excel file.
| Shape |
Size (carats) |
Price |
Cut Grade |
|
Shape |
Size (carats) |
Price |
Cut Grade |
| Princess |
5.03 |
$ 44,312 |
Ideal cut |
|
Round |
0.77 |
$ 2,828.00 |
Ultra ideal cut |
| Round |
2.35 |
20,413 |
Premium cut |
|
Oval |
0.76 |
3,808 |
Premium cut |
| Round |
2.03 |
13,080 |
Ideal cut |
|
Princess |
0.71 |
2,327 |
Premium cut |
| Round |
1.56 |
13,925 |
Ideal cut |
|
Marquise |
0.71 |
2,732 |
Good cut |
| Round |
1.21 |
7,382 |
Ultra ideal cut |
|
Round |
0.70 |
1,915 |
Premium cut |
| Round |
1.21 |
5,154 |
Average cut |
|
Round |
0.66 |
1,885 |
Premium cut |
| Round |
1.19 |
5,339 |
Premium cut |
|
Round |
0.62 |
1,397 |
Good cut |
| Emerald |
1.16 |
5,161 |
Ideal cut |
|
Round |
0.52 |
2,555 |
Premium cut |
| Round |
1.08 |
8,775 |
Ultra ideal cut |
|
Princess |
0.51 |
1,337 |
Ideal cut |
| Round |
1.02 |
4,282 |
Premium cut |
|
Round |
0.51 |
1,558 |
Premium cut |
| Round |
1.02 |
6,943 |
Ideal cut |
|
Round |
0.45 |
1,191 |
Premium cut |
| Marquise |
1.01 |
7,038 |
Good cut |
|
Princess |
0.44 |
1,319 |
Average cut |
| Princess |
1.00 |
4,868 |
Premium cut |
|
Marquise |
0.44 |
1,319 |
Premium cut |
| Round |
0.91 |
5,106 |
Premium cut |
|
Round |
0.40 |
1,133 |
Premium cut |
| Round |
0.90 |
3,921 |
Good cut |
|
Round |
0.35 |
1,354 |
Good cut |
| Round |
0.90 |
3,733 |
Premium cut |
|
Round |
0.32 |
896 |
Premium cut |
| Round |
0.84 |
2,621 |
Premium cut |
|
|
|
|
|
a) Develop a box plot of the variable price and comment on the results. Are there any outliers? What is the median price? What is the value of the first and the third quartile?
b) Develop a box plot of the variable size and comment on the results. Are there any outliers? What is the median price? What is the value of the first and the third quartile?
c) Develop a scatter diagram between the variables price and size. Be sure to put price on the vertical axis and size on the horizontal axis. Does there seem to be an association between the two variables? Is the association direct or indirect? Does any point seem to be different from the others?
d) Develop a contingency table for the variables shape and cut grade. What is the most common cut grade? What is the most common shape? What is the most common combination of cut grade and shape?