The mean ticket prices to Major League Baseball (MLB) games are shown in Table 68 for various
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Let y be the mean ticket price (in dollars) to MLB games for the year that is x years since 1950.
a. Construct a scatterplot by hand.
b. Graph the equation = 1.22(1.05)x by hand on the scatterplot. Then describe the shape and strength of the association.
c. What is the y-intercept? What does it mean in this situation?
d. Use the model to estimate the mean ticket prices in 2013 and 2014.
e. Find the ratio of your estimated 2014 mean ticket price to your estimated 2013 mean ticket price. Round your result to the second decimal place. Compare the ratio with the base 1.05 of the model = 1.22(1.05)x. Why does your comparison make sense?
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a b The graph of the equation is shown on the scatterplot from part a The association is expo...View the full answer
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