Monopoly investigation

What defines how much a property costs? What about its rent? You are going to see how the properties are linked to distance from Go and how this link changes as houses are built.

Section 1 Costs and distance

1. Use the monopoly board to complete the first two columns of the table below. 2. Use the property cards to fill in the rest of the table Property Distance from Go 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 39 38 39 Name Cost Basic 0 Houses 1 House Rent 2 Houses 3 Houses 4 Houses 1 Hotel

3. Should you include the utilities and the stations in your data?

4. Why is there a 0 Houses column?

5. Complete a scatter graph for distance from Go and initial cost. Stick your graph onto this page.

6. Are there any outliers? If so, what are they?

7. Calculate the correlation co-efficient for the Distance/Cost graph

8. Calculate the equation of the regression line and draw it on.

Section 2 Distance and rent

1. Complete a scatter graph for distance from Go and basic rent. Stick your graph onto this page.

2. Are there any outliers? If so, what are they?

3. Calculate the correlation co-efficient for the Distance/Rent graph

4. Calculate the equation of the regression line and draw it on.

Section 3 Cost and rents

In this section you will draw multiple scatter graphs on the same set of axes. Use different colours to distinguish these data series and ensure you scale your axes appropriately. 1. 2. 3. 4. 5. 6. 7. 8. Complete a scatter graph for Initial cost and basic rent. On the same set of axes complete an Initial cost/0 houses graph. On the same set of axes complete an Initial cost/1 house graph. On the same set of axes complete an Initial cost/2 houses graph. On the same set of axes complete an Initial cost/3 houses graph. On the same set of axes complete an Initial cost/4 houses graph. On the same set of axes complete an Initial cost/1 hotel graph. Stick your graph onto this page.

9. Calculate the correlation co-efficient for each data series.

10. Calculate the equation of the regression line for each series and draw it on.

11. Which Data series has the strongest correlation? How do you know?

12. Create 4 new properties to replace the 4 stations. They should follow your regression lines closely for each stage (Distance/Cost, Cost/Rent, Cost/# houses etc.)