Relationship between payroll and wins statistically

Assignment Help Basic Statistics

Reference no: EM131050121

Using the data from Problem 1, answer the following questions:

a) What is the regression line that best fits the data?

b) Is the relationship between payroll and wins statistically significant at the 0.05 level?

c) What is the predicted number of wins with a $70 million payroll?

d) What is the 99 percent confidence interval around the mean number of wins for a $70 million payroll?

e) What percent of the variation in wins is explained by the payroll?

Problem 1

The following table shows the payroll for 10 major league baseball teams (in millions) for the 2002 season, along with the number of wins for that year.

Calculate the correlation coefficient. Test to see whether the correlation coefficient is not equal to 0 at the 0.05 level.

Reference no: EM131050121

Questions Cloud

What did the responsibilities of each entail : what did the responsibilities of each entail?

Following table shows the grade point average : The following table shows the grade point average (GPA) for five students along with their entrance exam scores for MBA programs (GMAT). Develop a model that would predict the GPA of a student based on his GMAT score. What would be the predicted G..

Experience with public speaking : Please relate an experience with public speaking, focusing specifically on your preparation for the event. If you have not had a chance to speak publicly, please write about any worries or fears you have regarding the experience.

How might a change control system help : How might a change control system help?

Relationship between payroll and wins statistically : Using the data from Problem 1, answer the following questions: a) What is the regression line that best fits the data?

Prepare worksheet outlining transactions of high energt ltd : Accounting for Management M 5011 Problem Solving Assessment. Prepare a worksheet outlining the transactions of HIGH Energy Ltd in February and March 2016. Ignore tax

Kaiser aluminum and the united steelworkers : In 1974 the United Steelworkers of America, a labor union, and the Kaiser Aluminum & Chemical Corporation made an agreement seeking to solve an overwhelming racial inequality in the Kaiser workforce.

Calculate the correlation coefficient : The following table shows the payroll for 10 major league baseball teams (in millions) for the 2002 season, along with the number of wins for that year.

Discuss in groups and comment on the statement : Discuss in groups and comment on the statement that if managers learned how to conduct research by taking a course such as this there would no need to seek outside consultant help to solve their problems.

User Account

All Pages