Linear Regressions and Scatter Plots



Linear Regressions and Scatter Plots

Bakery Profits: Keane’s Bakery is trying to predict the profit they will earn in 2008. They gathered data from past years and made the following table:

|Year |Profit (in thousands of dollars) |

|2000 |125 |

|2001 |141 |

|2002 |152 |

|2003 |160 |

|2004 |163 |

|2005 |167 |

|2006 |171 |

1) On the graph below, create a scatter plot of the data from the table. Be sure to accurately label your axes.

|  |  |

| 0 |92 |

|0 |100 |

|0.5 |89 |

|1 |90 |

|1 |82 |

|1.5 |85 |

|2 |70 |

|2 |80 |

|2.5 |70 |

|2.5 |65 |

|3 |68 |

|3.5 |60 |

|4 |65 |

|4.5 |55 |

|5 |60 |

1) Use your calculator to graph the data points

as a scatter plot and the line of best fit.

2) What is the equation for the line of best fit?

3) Which variable is the explanatory one and which

one is the response one? How do you know?

4) Does the data given have a strong correlation?

How do you know?

5) Estimate the test score of a student who watched TV from 3pm – 10pm yesterday.

Cost of Median Priced House: Based on average house prices in the U.S.

|Year |Price |

| |(in thousands of $) |

|1989 |93.1 |

|1990 |97.5 |

|1991 |99.7 |

|1992 |100.9 |

|1993 |106.1 |

|1994 |107.6 |

1) Which variable is the response variable? Which is the explanatory one? How do you know?

2) Use your calculator to create a scatter plot with a line of best fit on your calculator.

3) What is the equation for the line of best fit?

Use the calculator to find…

4) The average price of a house in 1996. 5) The average price of a house in 2001.

6) The year that the average price of a house is $150,000.

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