Raj is investigating how the price, \(P\) pounds, of a brilliant-cut diamond ring is related to the weight, \(C\) carats, of the diamond.
He believes that they are connected by a formula
$$P = aC^n$$
where \(a\) and \(n\) are constants.
- Express \(\ln P\) in terms of \(\ln C\). [2 marks]
- Raj researches the price of three brilliant-cut diamond rings on a website with the following results.
| \(C\) | 0.60 | 1.15 | 1.50 |
| \(P\) | 495 | 1200 | 1720 |
- Plot \(\ln P\) against \(\ln C\) for the three rings on the grid below. [2 marks]
\includegraphics{figure_10b}
- Explain which feature of the plot suggests that Raj's belief may be correct. [1 mark]
- Using the graph on page 15, estimate the value of \(a\) and the value of \(n\). [4 marks]
- Explain the significance of \(a\) in this context. [1 mark]
- Raj wants to buy a ring with a brilliant-cut diamond of weight 2 carats.
Estimate the price of such a ring. [2 marks]