The following data show the annual revenue ($ millions) and theestimated team value ($ millions) for the 30 Major League Baseballteams (Forbes website, January 16, 2014).
Team | Revenue ($ millions) | Value ($ millions) |
|---|
Arizona Diamondbacks | 195 | 584 |
Atlanta Braves | 225 | 629 |
Baltimore Orioles | 206 | 618 |
Boston Red Sox | 336 | 1312 |
Chicago Cubs | 274 | 1000 |
Chicago White Sox | 216 | 692 |
Cincinnati Reds | 202 | 546 |
Cleveland Indians | 186 | 559 |
Colorado Rockies | 199 | 537 |
Detroit Tigers | 238 | 643 |
Houston Astros | 196 | 626 |
Kansas City Royals | 169 | 457 |
Los Angeles Angels of Anaheim | 239 | 718 |
Los Angeles Dodgers | 245 | 1615 |
Miami Marlins | 195 | 520 |
Milwaukee Brewers | 201 | 562 |
Minnesota Twins | 214 | 578 |
New York Mets | 232 | 811 |
New York Yankees | 471 | 2300 |
Oakland Athletics | 173 | 468 |
Philadelphia Phillies | 279 | 893 |
Pittsburgh Pirates | 178 | 479 |
San Diego Padres | 189 | 600 |
San Francisco Giants | 262 | 786 |
Seattle Mariners | 215 | 644 |
St. Louis Cardinals | 239 | 716 |
Tampa Bay Rays | 167 | 451 |
Texas Rangers | 239 | 764 |
Toronto Blue Jays | 203 | 568 |
Washington Nationals | 225 | 631 |
1. Write the regression equation.
2. Interpret the regression constant and regressioncoefficient.
3. Forecast a value for the dependent variable, test thesignificance of the regression coefficient at an alpha level of.05. Test the overall significance of the regression model, andInterpret the coefficient of determination.
5. Are there any indications of violations of the general linearmodel? You must address each assumption separately and explain.
