Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can anyone provide an explanation for this problem? For major league baseball teams, is there a relationship between player payrolls and gate money? Here are

Can anyone provide an explanation for this problem?

image text in transcribed
For major league baseball teams, is there a relationship between player payrolls and gate money? Here are data for each of the American League teams for the year 2000. The variable x denotes the 2000 player payroll (in millions of dollars), and the variable y denotes the mean attendance (in thousands of fans) for the 81 home games that year. The data are plotted in the Figure 1 scatter plot. Player payroll, x Mean (in $1,000,000 attendance, y s) (in thousands) Anaheim 59.2 25.56 45- Baltimore 80.5 40.74 40- Boston 97.0 31.98 Chicago White 35- 42.3 Sox 24.07 30- Cleveland 90.5 42.72 25- Detroit 68.6 31.23 20- Kansas City 31.8 20.74 Minnesota 23.5 13.09 15- New York Yankees 114.3 39.88 10_ Oakland 43.0 21.36 Seattle 59.9 38.89 0 Tampa Bay 65.2 18.27 26 40 60 100 120 140 Texas 72.7 34.57 Figure 1 Toronto 66.8 22.47 Send data to calculator Send data to Excel The least-squares regression line for these data has a slope of approximately 0.30. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least 0 two decimal places. What is the value of the sample correlation coefficient for these data? Round your answer to at least three decimal places. 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linear Algebra With Applications

Authors: Jeffrey Holt

2nd Edition

1319057691, 9781319057695

More Books

Students also viewed these Mathematics questions