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Question

You are going to explore whether a relationship exists between the cost of a property (properties are labeled with color coded rectangles) and its distance from Go.

1a. Explain the relationship you observe between the price of the property and the number of spaces from Go.

1b. Railroad Prices: You may notice that some of the railroad properties seem like outliers. According to a Linear Regression (Find the Linear Regression), how much should each railroad cost? Enter your work for each railroad.

1. a. Reading Railroad
2. b. Pennsylvania Railroad
3. c. B&O Railroad
4. d. Short Line Railroad

Answer 1

I am not monopoly player but let us assume from the information given that "places from go" refers to how many spaces, following the arrow, from "go" which makes Broadway the furthest away and the most expensive. The railroad companies are, indeed, outliers as they are all the same price. So do not consider them in any regression analysis. And then the properties with the same color show a pattern of the first two being the same price and the third being $20 more. If the questioner wants you to redefine how much each railroad should be priced, consider the pattern overall - increasing in value as you proceed around the board. There does not seem to be a consideration for other spaces, such as how close one is to the "free space". Reading Railroad would be $80 if following the pattern of 60, 60, 80,