3. Answer the questions: Does the price of an athletic team, specifically in the NHL, convey something about its quality? Which variables did you use in arriving at your answer?

Are higher-paid hockey players actually better than lower-salaried ones? Despite the league's new salary cap, the 30 teams in the NHL in the 2005-2006 season had widely different payrolls, starting with the New Jersey Devils who paid their players a total of almost $45 million, and ranging down to the Washington Capitals, who spent a mere $19 million on salaries, less than half what they cost the Devils. The following table shows each team's payroll along with standard measures of performance, including goals scored and allowed, wins, and points earned. The information shown in the table can also be found on the text website. Use a statistical computer package to explore the relationships between various pairs of variables in the table.

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Total Overtime Goals Goals Team Payroll ($) Points Wins Losses Losses For Against Detroit Red Wings 39,578,300 124 58 16 8 305 209 Ottawa Senators 36,909,094 113 52 Carolina Hurricanes 35,308,700 112 52 Dallas Stars 40,651,480 112 53 23 Buffalo Sabres 28,515,120 110 52 Nashville Predators 31,649,440 106 49 Calgary Flames 36,589,140 103 46 New Jersey Devils 44,895,949 101 46 Philadelphia Flyers 42,566,760 101 45 New York Rangers 41,474,800 100 44 San Jose Sharks 31,005,400 99 44 Anaheim Ducks 32,060,233 98 43 Colorado Avalanche 41,044,829 95 43 Edmonton Oilers 38,469,340 95 41 Montreal Canadiens 32,994,940 93 42 Tampa Bay Lightning 39,157,379 92 43 Vancouver Canucks 43,711,344 92 42 Atlanta Thrashers 37,170,200 90 41 Toronto Maple Leafs 36,796,580 90 41 Los Angeles Kings 37,856,150 89 42 Florida Panthers 26,500,510 85 37 Minnesota Wild 25,158,800 84 38 Phoenix Coyotes 30,354,345 81 38 New York Islanders 31,447,520 78 36 Boston Bruins 36,662,100 74 29 Columbus Blue Jackets 30,093,235 74 35 Washington Capitals 18,932,830 70 29 Chicago Blackhawks 30,141,200 65 26 Pittsburgh Penguins 23,122,650 58 22 St. Louis Blues 28.480.800 57 21 222 2 2 2 2 222222332333333223446 21 9 314 211 8 294 260 6 265 218 24 6 281 239 25 8 259 227 25 11 218 200 27 9 242 229 11 267 259 27 11 27 12 212 12 257 215 266 242 254 229 30 9 283 257 28 13 256 251 31 9 243 247 6 252 260 8 256 255 8 281 275 8 257 270 35 5 249 270 11 240 257 8 231 215 39 40 37 16 565 246 271 230 278 230 266 4 223 279 41 12 15 2345 237 306 13 211 285 14 244 316 197 292