The Excel file MLB 2012 Payroll. xlsx contains the total payroll in millions of dollars for each Major League Baseball team at the start of the 2012 season along with the total number of each team’s wins at the end of the season. Use Excel and PHStat to answer the following questions:

a. Construct a scatter plot for these data.

b. Identify the slope and the y intercept for the regression equation.

c. Provide an interpretation for the value of the slope.

d. Is the linear relationship between payroll and wins statistically significant using α = 0.05?

e. Identify the 95% confidence interval for the slope and interpret the results.

f. Construct a 95% confidence interval for the average number of wins for teams that have $ 100 million payrolls.

g. Construct a 95% prediction interval for the number of wins for a team that has a $ 100 million payroll.