25 Feb The price of lumber is typically a nonlinear distribution. Here are the current prices at a popular home improvement st
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?
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