Lobsters. The Maine lobster fishery is closely monitored, and statistics about the lobster business are published annually. Here are plots relating the total value ($M)

of lobsters harvested between 1950 and 2006 to the price of lobster ($ per pound) and the LogValue offered as an alternative transformation.

a) Is the Pearson correlation appropriate for either of these relationships? If not, what would you use? Explain.

b) Would it be appropriate to fit a linear model by least squares to either of these relationships? Explain.

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Value ($M) 300 225- 150 75- G - 2 Price/lb 3 4