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The following information is used in the next four (4) questions. Game maker and enthusiast Ben Wyatt is doing market research to understand pricing for
The following information is used in the next four (4) questions. Game maker and enthusiast Ben Wyatt is doing market research to understand pricing for toys and games. He recorded the number of pieces and the sales price (in dollars) for a random sample of 157 Lego sets listed on the lego.com website. Using R, Ben produced the scatterplot below to show the association between the number of pieces and price of the 157 Lego sets in the sample. 400 300 8200 100 0 1000 2000 3000 4000 pieces The regression line has the equation Predicted price = 4.862 + 0.105 pieces with an r of about 94.9%
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