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
- 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:
- Determine the quadratic regression model for this data. Write the result below:
- 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
- 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: