Explore BrainMass
Share

Statistics: Payroll Example Problem for Baseball

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

The following table gives the total 2004 payroll (on opening day of the season, rounded to the nearest million dollars) & the % of games won during the 2004 season by each of the National League baseball teams.

a) Find the least squares regression line with total payroll as an independent variable & % of games won as a dependent variable.
b) Is the regression line obtained in part of the population regression line? Why or why not? Do the values of the y-intercept & the slope of the regression line give β0 and β1 or b0 and b1?
c) Give a brief interception of the values of the y-intercept and the slope.
d) How good is the regression equation in explaining the change in % of games won based on payroll?
e) Conduct the test for the population slope.
f) Predict the % of games won for a team with the total payroll of $60 million.

© BrainMass Inc. brainmass.com October 25, 2018, 2:39 am ad1c9bdddf
https://brainmass.com/business/business-math/statistics-payroll-example-problem-baseball-309553

Attachments

Solution Preview

The following table gives the total 2004 payroll (on opening day of the season, rounded to the nearest million dollars) & the % of games won during the 2004 season by each of the National League baseball teams.

(a) Find the least squares regression line with total payroll as an independent variable &
% of games won as a dependent variable.

b) Is the regression line obtained in part of the population regression line? Why or why
not? Do the values of the y-intercept & the slope of the regression line give β0 and β1
or b0 and b1?

c) Give a brief interception of the values of the y-intercept and the slope.

d) How good is the regression equation in explaining the change in % of games won
based on payroll?

e) Conduct the test for the population slope.

f) Predict the % of games won for a team with the total payroll of $60 million.

Solution (a):

...

Solution Summary

This solution assists with the statistics problems.

$2.19
See Also This Related BrainMass Solution

Two-Sample Hypothesis Test

Instructions..I need to do a Two or More Sample Hypothesis Test. See attached documents and then...

a. In 200 - 300 words, do the following...
b. Perform the five-step hypothesis test on data pertaining to your selection. The subject is in baseball "there is no correlation between salaries and wins."
c. Describe the results of your test, and explain how the findings from this hypothesis testing can be used to answer your research question.
Be sure to include your raw data tables and the results of the computations of your Z-test or t-test in your paper, using both graphical and tabular methods of displaying data and results

The hypothesis is "there is no correlation between salaries and wins." We either need to accept the null hypothesis or reject it. By performing the five-step hypothesis we should determine if the hypothesis is accepted or rejected.

View Full Posting Details