Functions can be used to model real-world events and interpret data from those events. Data that measures or compares two characteristics of a population is known as bivariate data.
When analyzing and interpreting data, we often look for a relationship between two variables called an association. We can describe an association according to the form, direction, or strength of the relationship between the two variables.
For numerical data, descriptions include:
For categorical data, descriptions include:
To more easily analyse a set of data and determine if there is an association between the variables, we often construct a graph of the data, known as a scatter plot. On a scatter plot, we can then draw a line that best estimates the relationship between two sets of data, called a line of fit or trend line.
A scatter plot showing the median value of property sales made in the United States is shown below.
Sketch an approximate line of best fit for the scatter plot.
Use the line of best fit to predict the median housing price in 2022.