Answer
$ŷ =−36+11382x_1−613.2x_2−473.4x_3$
The coefficient for $x_1$: if the weight increases by 1 carat and the color and the clarity remain constant, then the price will increase by 11382 dollars, on average.
The coefficient for $x_2$: if the color number increases by 1 and the weight and the clarity remain constant, then the price will decrease by 613.2 dollars, on average.
The coefficient for $x_3$: if the clarity number increases by 1 and the weight and the color remain constant, then the price will decrease by 473.4 dollars, on average.
Work Step by Step
Given above.
