Refer to the Forbes magazine (Jan. 11,1999) report on the financial standings of each team in the

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Refer to the Forbes magazine (Jan. 11,1999) report on the financial standings of each team in the National Football League (NFL), Exercise 2.113 (p. 113). The table listing the current value (without deduction for debt, except stadium debt) and operating income for each team is reproduced on page 486.

a. Propose a straight-line model relating an NFL team's current value (y) to its operating income (x).

b. Fit the model to the data using the method of least squares.

c. Interpret the least squares estimates of the slope and y-intercept in the words of the problem.

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Statistics For Business And Economics

ISBN: 9780130272935

8th Edition

Authors: James T. McClave, Terry Sincich, P. George Benson

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