The price of lumber is typically a nonlinear distribution. Here are the current prices at a popular home improvement store for 2 x 4 lumber in different lengths.
length – feet
price
8
$5.11
10
$7.58
12
$9.12
16
$12.87
- Create a scatterplot using this data. Place the explanatory variable on the horizontal axis and response variable on the vertical axis. Be sure to label the axes and scale.
- Determine the exponential regression model for this data. Write the results below:
Equation
r2
- Determine the quadratic regression model for this data. Write the result below:
Equation
r2
- Use the regression models to make a price chart for some non-standard lengths of 2 x 4 lumber.
Length feet
Exponential Regression Price
Quadratic Regression Price
4
14
20
32
- Write a brief paragraph comparing and contrasting the two regression models. Why do you think the regression model for lumber price is best represented in a nonlinear distribution?
Your project will be graded based on the following rubric:
