Prediction on the Prices of Laboratory-Grown Diamonds based on Multiple Linear Regression Model

Abstract

Diamond as emotional investment, in recent years, the market price of it is going through rising and falling, and drastic fluctuating, more is the decline in price. The diamond industry has also been challenged, there is happening oversupply and weak demand in diamond market. The impact of lab-grown diamonds on natural diamonds has also changed the price of diamonds across the diamond industry. However, the market of diamond is still at the forefront of the jewelry industry. In order to ensure that consumers have more understanding of diamond choices, this paper adopts multiple linear regression model to forecast diamond prices, collects a large amount of data, and uses 4c criteria as the standard for diamond price prediction to explore the relationship between diamond prices and diamond measurement standards. Through the calculation, the diamond buyers will explore ways to realize diamond price, the diamond industry will be rationalized production, and balance the relationship between diamond supply and demand to provide a method.