11/10/2017

Carat vs. Price

  • This graph shows the relation between carat and price for the Diamonds data set.

What does this mean?

  • The data set shows that as carat of a diamond increases, so does price.
  • It also shows that price is higher for more precise carat, e.g. 1, 1.5, or 2 carat diamonds tend to be more common than irregularly weighted diamonds.

Carat signifies weight of the diamond, and price is in U.S. dollars between $326 and $18,823

Understanding Carat

  • We mentioned that carat signifies weight of the diamond, but what does that look like?
  • The picture below shows a 1 carat diamond compared side by side to a 2 carat diamond.

As one would assume, a 1 carat diamond would be smaller than a 2 carat diamond because the 2 carat diamond would weigh more.

Other ways to visualize the data

  • We can also look at this comparison using a box plot, as seen above.

Other ways to visualize the data (cont.)

  • This is the data presented in the form of a violin plot.
  • We also added color to the plot.