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 usi

 

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: