The following data show the annual revenue ($millions) and the estimated team value ($millions) for the 32 teams in the National Football League (Forbes website, February 2009). Please use Excel.file attached.
Answer the following:
1. Write the regression equation,
2. Interpret the regression constant and regression coefficient,
3. Forecast a value for the dependent variable,
4. Test the significant of the regression coefficient with alpha equaling .05,
5. Test the overall significant of the regression model,
6. Interpret the coefficient of determination, and
7. Are there any violations of the general linear model? explain.
This solution is comprised of a detailed explanation of various aspects of Regression Analysis as it pertains to the given problem. Supplemented with EXCEL output and more than 300 words of text, this step-by-step explanation of this complicated topic provides students with a clear perspective of Regression Analysis.