Develop a box plot of the variable price and comment on the

Question

McGivern Jewelers 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 below.

Shape	Size (carats)	Price	Cut Grade		Shape	Size (carats)	Price	Cut Grade
Princess	5.03	$44,312	Ideal cut		Round	0.77	$2,828	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 result. Are there any out- liers? 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 result. Are there any out- liers? 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 asso- ciation 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?

Answer 1

On behalf of the statistics principles and concepts, perform the following tasks as per requisite of the problem. 1) Build up a box plot of the variable price and comment on the outcome. Are there any outliers? Determine the median price? Illustrate the value of the Ist and the IIIrd quartile? 2) Build up a box plot of the variable size and comment on the outcome. Are there any outliers? Determine the median price? Determine the value of the Ist and the IIIrd quartile? 3) Build up a scatter diagram between the variables price and size. Ensure to put price on the vertical axis and size on horizontal axis. Does there seem to be an relationship between the two variables? Is the relationship direct or indirect? Does any point seem to be dissimilar from the others? 4) Build up a contingency table for the variables shape and cut grade. Illustrate the most common cut grade? Describe the most common shape?