Explanation Given: The NFL data is shown in the below table. Team Value Debt Revenue Income Dallas Cowboys 2100 13 500 226.7 New England Patriots 1635 16 380 118.8 Washington Redskins 1600 28 373 109.0 New York Giants 1468 44 326 59.0 Houston Texans 1305 15 304 61.9 New York Jets 1284 58 299 27.0 Philadelphia Eagles 1260 8 296 48.2 Chicago Bears 1190 10 286 65.3 49ers 1175 11 245 30.0 Green Bay Packers 1161 2 276 43.1 Baltimore Ravens 1157 23 279 48.6 Indianapolis Colts 1154 4 268 62.6 Denver Broncos 1132 13 276 49.3 Pittsburgh Steelers 1100 18 266 -0.8 Miami Dolphins 1060 36 265 14.5 Carolina Panthers 1048 18 269 11.5 Seattle Seahawks 1040 12 260 16.4 Tamp Bay Buccaneers 1033 17 258 44.1 Tennessee Titans 1011 12 262 38.8 Kansas City Chiefs 1008 13 259 46.4 Cleveland Browns 987 15 258 28.7 Minnesota Vikings 975 34 227 7.2 New Orleans Saints 971 13 259 37.0 San Diego Chargers 936 13 246 22.5 Arizona Cardinals 922 16 246 20.5 Cincinnati Bengals 871 11 235 18.1 Detroit Lions 855 32 231 -4.6 Atlanta Falcons 837 33 239 15.3 Buffalo Bills 805 16 240 29.4 Oakland Raiders 785 16 226 -15.2 St Louis Rams 780 15 231 6.7 Jacksonville Jaguars 770 19 238 29.6 Calculation: Follow the below mentioned steps to obtain the least-squares regression line equation for value and debt. Step 1: Open the NFL data file in Minitab. Step 2: Go to Stat, select Regression and click on Regression. Step 3: In the dialogue box that appears select the response variable as ‘Value’ and the predictor as ‘Debt’. Step 4: Click on Ok. From the Minitab output, the least-squares regression line equation is obtained as: Value = 1074 + 1.74 Debt And the value r 2 is obtained as 0.5%. Follow the below mentioned steps to obtain the least-squares regression line equation for value and revenue. Step 1: Open the NFL data file in Minitab. Step 2: Go to Stat, select Regression and click on Regression. Step 3: In the dialogue box that appears select the response variable as ‘Value’ and the predictor as ‘Revenue’. Step 4: Click on Ok. The least-squares regression equation for the value and revenue is Value = − 262 + 4

Introduction to the Practice of Statistics: w/CrunchIt/EESEE Access Card

8th Edition

ISBN: 9781464158933

Author: David S. Moore, George P. McCabe, Bruce A. Craig

Publisher: W. H. Freeman

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Chapter 2.4, Problem 91E

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Chapter 2.4, Problem 90E

Chapter 2.5, Problem 92UYK

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Introduction to the Practice of Statistics: w/CrunchIt/EESEE Access Card

Ch. 2.1 - Prob. 1UYK Ch. 2.1 - Prob. 2UYK Ch. 2.1 - Prob. 3UYK Ch. 2.1 - Prob. 4UYK Ch. 2.1 - Prob. 5E Ch. 2.1 - Prob. 6E Ch. 2.1 - Prob. 7E Ch. 2.1 - Prob. 8E Ch. 2.1 - Prob. 9E Ch. 2.2 - Prob. 10UYK

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The least-squares regression equation and to give a short report that summarizes the findings.

Solution Summary: The author explains the least-squares regression equation of team value and debt and gives a short report that summarizes the findings.

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