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1. A linear mathematical model for predicting prize winnings at a race is based on data for 3 years. Create an example of such a model and then write a paragraph discussing the potential accuracy or inaccuracy of it. (Need a scatter graph, linear model for the data, and potential accuracy or inaccuracy of it)
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1
Pre-Calculus scatter graph and linear model
A linear mathematical model for predicting prize winnings at a race is based on data
for 3 years. Create an example of such a model and then write a paragraph discussing the
potential accuracy or inaccuracy of it. (Need a scatter graph, linear model for the data, and
potential accuracy or inaccuracy of it)
The data will be represented with a set of ordered pairs. Where the first coordinate is the
number of the race and the second coordinate is the prize winnings in thousands of dollars.
Assuming that there are 4 races for year (one each three months) with a total of 12 races.
(1, 501) (2, 518) (3, 529) (4, 553) (5, 578) (6, 588)
(7, 602) (8, 616) (9, 622) (10, 655) (11, 674) (12, 683)
Table 1. Dataset.
Races
Prize Winnings
(each three months) (in thousands of dollars)
2015, January (1)
501
2015, April (2)
518
2015, July (3)
529
2015, October (4)
553
2016, January (5)
578
2016, April (6)
588
2016, July (7)
602
2016, October (8)
616
2017, January (9)
622
2017, April (...
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