Statistics: Monopoly and Regression

Objectives

• Students will analyze the linear association between two variables and interpret the association in the context of a given scenario.
• Students will calculate a least-squares regression line and interpret the coefficients.
• Students will determine the appropriateness of a least-squares regression plot by analyzing residuals and the effects of unusual points on the line.

Vocabulary

• coefficient of determination
• correlation coefficient
• explanatory variable
• influential point
• least-squares regression line
• outlier
• response variable
• scatter plot
• slope
• y-intercept

About the Lesson

This lesson involves analyzing the association between the number of spaces from Go and the cost of the property on a standard Monopoly board.

As a result, students will:

• Calculate a least-squares regression line for data and interpret the coefficients.
• Discuss unusual points and their effects on the line.
• Interpret a residual plot.