LAB: Monopoly Good Luck to: ____________________________
AP Statistics DUE DATE: Have you ever played Monopoly? If so, you might recall that as you move around the board, the cost of purchasing property increases the further you are from GO. Find a linear model that can predict the cost of property based on the number of spaces from GO. Monopoly board on the next page.
What is the regression equation for the data? State the value of r.
Create a scatterplot (by hand or in Excel) of the data along with the regression line. Attach it to this sheet.
Does any of the data seem out of place? What effect does this data have on the line? Remove the data and find the LSRL again. What is the value of r now?
If Community Chest and Chance were sold for residential purposes, what should be the price for the Community Chest and Chance spaces?
What would you charge to purchase free parking?
The makers of Monopoly have decided to make their board larger, building it in the shape of a hexagon. What should they charge for Statistics Avenue that is 57 spaces from GO?