Use this information to conduct regression analysis to determine whether team salary is a good predictor of wins.
Use this information to conduct regression analysis to determine whether team salary is a good predictor of wins.
Question #1: In this analysis which variable is the dependent variable? ____
Continuing on with our analysis of the correlation between Salary and Wins, what is the value of the correlation coefficient?
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Is the correlation between Wins and Salary statistically significant or not significant?
Make a scatterplot to show the relationship between Wins and Salary. Theory suggests team owners who pay more will have more wins. Which variable should be on the vertical axis? ____
what is the direction of the correlation between Salary and Wins? ____
what is the strength of the correlation between Wins and Salary? ____
Using the regression equation
Wins = a + b * Salary
how many wins would we predict for a team with a salary of $75 (million)?
Hint: a and b are constants. Once you know those, you plug in 75 for Salary to determine Wins. Round your answer two decimal places. ____
What is the SLOPE of the regression line?
What is the intercept? That is, what is the a-value?
