The collection of emeraldcut diamonds contains replications

The collection of emerald-cut diamonds contains replications, several diamonds at each weight. Had we fit the linear equation using average prices at each weight rather than individual diamonds, how would the fitted equationand summary measures (r² and s_e) change?

The slope would ____ and the intercept would ____ The value of s_e would _____ and r² would ____

The collection of emerald-cut diamonds contains replications, several diamonds at each weight. Had we fit the linear equation using average prices at each weight rather than individual diamonds, how would the fitted equation and summary measures (r^2 and se) change? and r2 would and the intercept would The value of se would The slope would increase significantly be approximately the same decrease significantly be approximately the same, increase significantly, decrease significantly. decrease significantly increase significantly be approximately the same be approximately the same, increase significantly, decrease significantly.

Solution

The slope would BE APPROXIMATELY THE SAME and the intercept would BE APPROXIMATELY THE SAME.

The value of se would DECREASE SIGNIFICANTLY and r^2 would INCREASE SIGNIFICANTLY. [ANSWER]

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The line would almost be the same line here, however, the scattering of points will be reduced, as we use means now.

Thus, the slope and intercept would be almost the same, but the error term decreases and the fit (r^2) increases.