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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 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 2002. The variable x denotes the 2002 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 (in $1,000,000 Mean attendance, y (in thousands) 5) 62.8 56.5 110.2 28.52 33.09 32.72 X 54.5 20.74 Anaheim Baltimore Boston Chicago White Sox Cleveland Detroit Kansas City Minnesota New York Yankees Oakland Seattle Tampa Bay Texas Toronto 74.9 54.4 49.4 + + + 41.3 + 133.4 41.9 86.1 34.7 106.9 66.8 32.35 18.52 16.30 23.70 42.84 26.79 43.70 13.21 29.01 20.25 0 20 40 de s@ 100 120 100 Figure 1 Send data to Excel The value of the sample correlation coefficient r for these data is approximately 0.728. 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 slope of the least-squares regression line for these data? Round your answer to at least two decimal places. 07 What is the value of the y-intercept of the least-squares regression line for these data? Round your
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