For this project, I want you to find a data set that is interesting to you, and then do your own analysis.
Identify something that has been experiencing rapid change over time (over a period of at least 10 years). Go on the internet and gather a minimum of 10 data points that demonstrate this change.
Clearly identify what your x and y variables represent. Be specific about units! [Reminder — it is a good idea to let x = # of years since…, rather than the actual years].
Identify the source of your data (a web-page link is sufficient).
Create a table outlining your data. One column should be for the time, and the other column for your data values.
Using your choice of linear regression technology, find the line of best fit and its associated r-squared value.
What does your r-squared value tell you about your equation model?
Identify and interpret the y-intercept in your equation model. What does this represent in terms of your situation? Be sure to include units!
Identify and interpret the slope in your equation model. What does this represent in terms of your situation? Be sure to include units!
Use your equation model to predict the behavior in the year 2021. What did you find as the predicted value? Explain if you think this might be an accurate prediction — why or why not?
Please be neat and clear with your replies, and thoroughly answer each of the 8 parts above. For problems #4-8, write your explanation in complete sentences.
You may submit your project in any of the following ways — whatever is easiest for you. Multiple file submissions and types are OK (i.e. You may want to submit your data tables in Excel, but write out your sentence replies in Word).