I will add to the discussion my own experience when I tried to develop an experiment similar to the one described here. I didn't get very far and eventually I abandoned the idea primarily because the rubber bands I tried could not be trusted to provide the same force for the same displacement reproducibly. The cause for this lack of reproducibility was hysteresis. The force that the stretched band exerted depended on what had been done to it prior to the stretching.
A simple experiment to investigate this was a "round-trip stretching" as opposed to the "one-way" measurement described here. I suspended a series of weights of increasing magnitudes and measured the displacement then reversed the order, reducing the hanging weights and remeasuring the distances. I found that the displacements for a given weight on the way up were lower than those on the way down. Furthermore, the results from the first round-trip set were not reproduced when I repeated with a second set using the same weights and procedure. I quit when I found out that the results also varied depending on how long I waited before starting the "return" trip with the largest mass stretching the band all the while.
My point here is not to criticize this experiment but to offer a word of caution. Know thy band before comparing experimental results against an analysis that is based on Hooke's Law with a reproducible constant ##k##.