
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
expand_more
expand_more
format_list_bulleted
Topic Video
Question
QUESTION 17
DATAfile: NFLTeamValue
In 2014, the 32 teams in the National Football League (NFL) were worth, on average, $1.17 billion, 5% more than in 2013. The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 NFL teams in 2014.†
Team | Revenue ($ millions) |
Current Value ($ millions) |
---|---|---|
Arizona Cardinals |
253 | 961 |
Atlanta Falcons |
252 | 933 |
Baltimore Ravens |
292 | 1,227 |
Buffalo Bills |
256 | 870 |
Carolina Panthers |
271 | 1,057 |
Chicago Bears |
298 | 1,252 |
Cincinnati Bengals |
250 | 924 |
Cleveland Browns |
264 | 1,005 |
Dallas Cowboys |
539 | 2,300 |
Denver Broncos |
283 | 1,161 |
Detroit Lions |
248 | 900 |
Green Bay Packers |
282 | 1,183 |
Houston Texans |
320 | 1,450 |
Indianapolis Colts |
276 | 1,200 |
Jacksonville Jaguars |
260 | 840 |
Kansas City Chiefs |
245 | 1,009 |
Team | Revenue ($ millions) |
Current Value ($ millions) |
---|---|---|
Miami Dolphins |
268 | 1,074 |
Minnesota Vikings |
234 | 1,007 |
New England Patriots |
408 | 1,800 |
New Orleans Saints |
276 | 1,004 |
New York Giants |
338 | 1,550 |
New York Jets |
321 | 1,380 |
Oakland Raiders |
229 | 825 |
Philadelphia Eagles |
306 | 1,314 |
Pittsburgh Steelers |
266 | 1,118 |
San Diego Chargers |
250 | 949 |
San Francisco 49ers |
255 | 1,224 |
Seattle Seahawks |
270 | 1,081 |
St. Louis Rams |
239 | 875 |
Tampa Bay Buccaneers |
267 | 1,067 |
Tennessee Titans |
270 | 1,055 |
Washington Redskins |
381 | 1,700 |
(a)
Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis.
A scatter plot with 32 points is given.
- The horizontal axis is labeled: Revenue ($ millions), and
ranges from 0 to 600. - The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.
- Most of the points follow a trend that starts at the bottom left corner of the plot and moves upward towards the point (539 , 2400). The points are fairly scattered.
A scatter plot with 32 points is given.
- The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.
- The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.
- Most of the points follow a trend that starts at the point (229 , 825) and moves upward towards the point (539 , 2300). The points are plotted close together with very little scatter.
A scatter plot with 32 points is given.
- The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.
- The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.
- Most of the points follow a trend that starts at the point (229 , 2300) and moves down and to the right - initially steep and nearly vertical then curving to be nearly horizontal - to the point (539 , 825). The points are plotted close together with very little scatter.
A scatter plot with 32 points is given.
- The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.
- The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.
- The points plotted from the horizontal axis values of 110 to 500 are evenly scattered between the vertical axis values of 1030 to 1960.
Does it appear that there is any relationship between the two variables?
There appears to be ---Select--- a positive a negative no linear relationship between two variables.
(b)
What is the sample correlation coefficient ? (Round your answer to two decimal places.)
What can you say about the strength of the relationship between Revenue and Value?
The sample correlation coefficient indicates ---Select--- a very strong no a very weak linear relationship between the two variables.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Use excel in this question: The Motion Picture Distributors Association of Australia collects yearly data on gross box office takings of the films in Australia. Data is provided here for the years 1990-2004. (Unfortunately more recent data is not readily available.) Is the highest box office takings for a film related to the number of films screened in Australia that year? Year No. of films screened Highest box office ($ million) 1990 252 26.1 1991 240 19.22 1992 229 18.73 1993 259 31.74 1994 252 24.65 1995 253 17.93 1996 281 29.29 1997 285 22.7 1998 273 47.33 1999 255 38.72 2000 250 30.72 2001 245 32.05 2002 258 33.81 2003 268 37.14 2004 318 50.35 1. Produce a scatterplot of the relevant data. Comment on the appropriateness of analysing this data using a linear regression model. 2. Use the statistics from a regression analysis of this data to evaluate the evidence for a useful predictive linear relationship between the two variables at the 5%…arrow_forwardFind the Fan Cost Index for the Atlanta Hawks. Team Ticket Other Drink Soft Drink Hot Dog Parking Hat FCI Atlanta Hawks $55 $5 $4 $3 $20 $30arrow_forwardA sales manager collected the following data on annual sales and years of experience. Annual Sales ($1000s) 80 Salesperson Years of Experience 1 1 4 102 3 6 103 4 10 119 5 13 136arrow_forward
- In 2011, there were 3552 deaths from heroin overdose. What was the % increase in deaths from heroin overdose from 2011 to 2015? What was the % increase per year?arrow_forwardThe boxplots show data for state and local community expenditures on hospitals and highways. Hospitals Estimate Q1, Q2, and Q3 for hospital and highway spending. Highways Billions of Dollarsarrow_forwardA company's sales in Seattle were $390,000 in 2012, while their sales in Portland were $270,000 for the same year. Complete the following statements:a. Seattle's sales were % larger than Portland's.b. Portland sales were % smaller than Seattle's.c. Portland sales were % of Seattle's.Give answers accurate to at least one decimal place.arrow_forward
- According to the United States Department of Agriculture (USDS), people living in the U.S. consumed 211,219,000,000 pounds of dairy in 2018. Of the amount consumed, 12,408,000,000 pounds were in the form of cheese.* Part A: Based on the information above, what percentage of diary consumed in 2018 was from cheese? Round to the nearest tenth of a percent. 58.7% O 17.0% O 5.9% O 2.5% Part B: Of the cheese consumed in 2018, 5,036,000,000 pounds were considered "American cheese," defined by the USDS as Cheddar, Colby, Monterrey, and Jack cheese.* What percentage of dairy consumption was from American cheese? Round to the nearest tenth of a percent. 40.5% 49.1% 02.4% 0 2.3%arrow_forwardWhat percentage change in the total and Hispanic populations occurred in each state between 2000 and 2010?arrow_forwardPlease show steps in Excel. The 32 teams in the National Football League (NFL) are worth, on average, $1.17 billion, 5% more than last year. The datafile NFLTEAMVALUE shows the annual revenue ($millions) and the estimated team value ($ millions) for the 32 NFL teams (Forbes website, February 28, 2014). a.Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis. Does there appear that there is any relationship between the two variables? b. What is the sample correlation coefficient? What can you say about the strength of the relationship between Revenue and Value? Team Revenue ($ millions) Current Value ($ millions) Arizona Cardinals 253 961 Atlanta Falcons 252 933 Baltimore Ravens 292 1,227 Buffalo Bills 256 870 Carolina Panthers 271 1,057 Chicago Bears 298 1,252 Cincinnati Bengals 250 924 Cleveland Browns 264 1,005 Dallas Cowboys 539 2,300 Denver Broncos 283 1,161 Detroit Lions 248 900 Green Bay Packers 282 1,183 Houston…arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman

MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc

Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning

Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning

Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON

The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman