The Farr-Kroger Classic is a womens professional golf tournament played each year in Ohio. Listed below are the total purse winnings (the amount of money that is distributed to the top golfers) and the prize for the winner for the 15 years from 1999 through 2013. The operators of this golf tournament believe that there is a relationship between the purse winnings and the prize. There is also a belief that both of these are increasing over time.

Year	Purse Winnings	Prize
1999	$225,000	$33,750
2000	$275,000	$41,250
2001	$325,000	$41,250
2002	$325,000	$48,750
2003	$350,000	$52,500
2004	$400,000	$60,000
2005	$450,000	$67,500
2006	$500,000	$75,000
2007	$500,000	$75,000
2008	$575,000	$86,250
2009	$700,000	$105,000
2010	$800,000	$120,000
2011	$800,000	$120,000
2012	$1,000,000	$150,000
2013	$1,000,000	$150,000

In answering these questions, you must use the correct independent and dependent variables.

a) Suppose that the prize is a function only of time. Using linear regression, develop a projection for the amount of the prize for the winner for the year 2016 based on the information you have provided through this part of the problem. Identify the independent and dependent variables you are using considering the problem statement.

b) Using linear regression, develop a projection for the amount of the prize for the winner for the year 2016 based only on the relationship between the prize and the purse winnings. From the $1,000,000 Purse Winnings in 2013 the Classic tournament committee has and will continue to increase the purse winnings $25,000 per year for the next five years. Identify the independent and dependent variables you are using considering the problem statement.

c) Would you use either of the methods from a) or b) to project the prize for the winner for 2016? Explain your answer, including the key factors that we studied that should be considered in making this decision.