Education Technology


VIC: Monopoly Part 1

by Texas Instruments

Objectives

Use scatterplots to identify and qualitatively describe the association between two numerical variables in terms of direction, form and strength.
Use a least squares line to model an observed linear association and the interpretation of its intercept and slope in the context of the data.

Vocabulary

  • Residual
  • Line of best fit
  • Least Squares Regression
  • Scatter plot
  • Extrapolate
  • Linear

About the Lesson

Is there any relationship between location and price on the Monopoly board? Students reason through a relationship by considering the amount by which properties increase as they move around the board. Simplistically put, Mayfair is 40 squares from Go and costs $400, so a good starting point is to assume the relationship is directly proportional to arrive at y = 10x. Students work on the relationship from this point using all the available data to determine a more appropriate relationship including how to quantify the accuracy of their rule. Using the skills developed; students explore the relationship between price and rental return and consider why the board might be set up in this way.