Question
A sports analyst for Major League Baseball wonders whether there is a relationship between a pitcher's salary (in $ millions) and his earned run average
A sports analyst for Major League Baseball wonders whether there is a relationship between a pitcher's salary (in $ millions) and his earned run average (ERA). The accompanying table lists a portion of the data that she collected for 10 pitchers. Below is the data.
Pitcher | Salary | ERA |
1 | 11 | 2.52 |
2 | 3 | 2.38 |
3 | 0.4 | 2.23 |
4 | 9 | 2.15 |
5 | 10 | 2.02 |
6 | 5 | 2.68 |
7 | 8.3 | 2.68 |
8 | 6.1 | 2.56 |
9 | 10.9 | 2.68 |
10 | 0.2 | 2.96 |
A.) Estimate the model: Salary = 0 + 1ERA + . (Negative values should be indicated by a minus sign. Enter your answers, in millions, rounded to 2 decimal places.)
B.) Use the estimated model to predict salary for Player 1 and Player 2. For example, use the sample regression equation to predict the salary for Pitcher 1 with ERA = 2.52.
C.) Derive the corresponding residuals for Player 1 and Player 2. (Negative values should be indicated by a minus sign. Round your final answers (in millions) to 2 decimal places.)
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