Q. 4.68 - Elementary Statistics

Question

Age and Price of Orions. In Table $4.2$, we provided data on age and price for a sample of $11$ Orions between $2$ and $7$ years old. On the Weiss Stats site, we have given the ages and prices for a sample of $31$ Orions between $1$ and $11$ years old.

a. Obtain a scatterplot for the data.

b. Is it reasonable to find a regression line for the data? Explain your answer.

Step-by-Step Solution

Answer

a. The scatterplot for the given data is,

b. Yes, it is reasonable to find a regression line for the data.

Part (a) Step 1: Given Information

Table $4.2$ measures the age and price of $11$ onions. The age is indicated in years and the price is shown in hundreds of dollars.

Part (a) Step 2: Explanation

According to the graph, the age is on the horizontal axis and the price is on the vertical axis.

Part (b) Step 1: Given Information

The purpose of this explanation is to demonstrate the reasonableness of the regression line's finding.

Part (b) Step 2: Explanation

Based on the above plot, it's evident that there is no strong curvature and the pattern of the scatter plot is fairly linear. 

In other words, onions' price increases linearly with their age.

Therefore, it is reasonable to assume that there is a linear relationship between the two.