You used annual revenues to predict the value of a baseball franchise (stored in BBRevenue2012). Using the

Question:

You used annual revenues to predict the value of a baseball franchise (stored in BBRevenue2012). Using the results of that problem.
a. Determine the coefficient of determination, r2, and interpret its meaning.
b. Determine the standard error of the estimate.
c. How useful do you think this regression model is for predicting the value of a baseball franchise?
For Information: Problem 13.8