or major league baseball teams, do higher player payrolls mean more gate money? Here are data for each of the National League teams in the year 2002 . The variable x denotes the player payroll (in millions of dollars) for the year 2002 , and the variable y denotes the mean attendance (in thousands of fans) for the 81 home games that year. The data are plotted in Figure 1 scatter plot, as is the least-squares regression line. The equation for this line is =y+5.910.34x . Answer the following: 1. Fill in the blank: For these data, mean attendance values that are less than the mean of the mean attendance values tend to be paired with player payroll values that are _____ the mean of the player payroll values. Choose onegreater thanless than 2. Fill in the blank: According to the regression equation, for an increase of one million dollars in player payroll, there is a corresponding _____ of 0.34 thousand fans in mean attendance. Choose oneincreasedecrease 3. From the regression equation, what is the predicted mean attendance (in thousands of fans) when the player payroll is 103.5 million dollars? (Round your answer to at least two decimal places.) 4. What was the observed mean attendance (in thousands of fans) when the player payroll was 103.5 million dollars?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
For major league baseball teams, do higher player payrolls
. The variable
denotes the player payroll (in millions of dollars) for the year
, and the variable
denotes the mean attendance (in thousands of fans) for the
home games that year. The data are plotted in Figure 1
.
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