Question
In: Economics
The following data show the annual revenue ($ millions) and the estimated team value ($ millions)...
The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 30 Major League Baseball teams (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 regression coefficient.
3. Forecast a value for the dependent variable, test the significance of the regression coefficient at an alpha level of .05. Test the overall significance of the regression model, and Interpret the coefficient of determination.
5. Are there any indications of violations of the general linear model? You must address each assumption separately and explain.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
The following data show the annual revenue ($ millions) and the estimated team value ($ millions)...
The following data show the annual revenue ($ millions) and the
estimated team value ($ millions) for the 30 Major League Baseball
teams (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...
The following data show the annual revenue ($ millions) and the estimated team value ($ millions)...
The following data show the annual revenue ($ millions) and the
estimated team value ($ millions) for the 30 Major League Baseball
teams (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...
The File NFLValues.xlsx show the annual revenue ($ millions) and the estimated team value ($ millions)...
The File NFLValues.xlsx show the annual revenue
($ millions) and the estimated team value ($ millions) for the 32
teams in the National Football League.
Develop a scatter diagram with Revenue on the horizontal axis
and Value on the vertical axis. Does it appear that there are any
outliers and/or influential observations in the data?
Develop the estimated regression equation that can be used to
predict team value given the value of annual revenue.
Use residual analysis to determine whether...
Can annual sports team revenues be used to predict franchise values? Team Revenue ($mil) Value ($mil)...
Can annual sports team revenues be used to predict franchise
values?
Team Revenue ($mil) Value ($mil)
Team 1 552 2815
Team 2 677 3436
Team 3 372 1329
Team 4 625 3198
Team 5 557 1847
Team 6 313 691
Team 7 339 856
Team 8 354 849
Team 9 396 867
Team 10 219 483
Team 11 257 581
Team 12 225 514
Team 13 516 415
Team 14 203 348
Team 15 154 328
Team 16 176 327...
Can annual sports team revenues be used to predict franchise values? Team Revenue ($mil) Value ($mil)...
Can annual sports team revenues be used to predict franchise
values?
Team Revenue ($mil) Value ($mil)
Team 1 554 2806
Team 2 676 3437
Team 3 371 1333
Team 4 628 3202
Team 5 559 1852
Team 6 312 691
Team 7 342 858
Team 8 355 851
Team 9 394 869
Team 10 219 482
Team 11 258 579
Team 12 224 513
Team 13 516 414
Team 14 203 347
Team 15 156 329
Team 16 177 326...
Can annual sports team revenues be used to predict franchise values? Team Revenue ($mil) Value ($mil)...
Can annual sports team revenues be used to predict franchise
values?
Team Revenue ($mil) Value ($mil)
Team 1 552 2815
Team 2 677 3436
Team 3 372 1329
Team 4 625 3198
Team 5 557 1847
Team 6 313 691
Team 7 339 856
Team 8 354 849
Team 9 396 867
Team 10 219 483
Team 11 257 581
Team 12 225 514
Team 13 516 415
Team 14 203 348
Team 15 154 328
Team 16 176 327...
The data below shows the annual salaries (in millions) and the number of viewers (in millions)...
The data below shows the annual salaries (in millions) and the
number of viewers (in millions) of eight television actors and
actresses. Answer parts a-c.
Salary (x)
97
12
13
33
11
7
8
2
Viewers (y)
16
4.9
5.3
1.6
10.4
9.1
13.4
4.7
a. Find the value of the linear correlation coefficient r.
b. Find the critical values of r from the table showing the
critical values for the Pearson correlation coefficient using
alpha=0.05.
c. Is there sufficient...
Data from 2010 & 2011, in millions (source: Billboard Magazine): Company Annual Revenue Market Valuation Spotify  
Data from 2010 & 2011, in millions (source: Billboard
Magazine):
Company
Annual Revenue Market Valuation
Spotify
145 3,000
Warner
Music 2,888
3,300
Live Nation
5,600
1,700
Pandora 241 1,300
EMI 1,800
1,900
3a) Find the correlation between annual revenue and market
valuation. Is it statistically significant?
3b) Why is the correlation between revenue and market valuation
so low?.
Consider the following data on the estimated cost (in millions of dollars) resulting from traffic congestion...
Consider the following data on the estimated cost (in millions
of dollars) resulting from traffic congestion for different urban
areas. The following are the data for the 13 largest U.S. urban
areas. Urban Area Total Cost (millions of dollars) New York 16 Los
Angeles 13 Chicago 7 Washington, D.C. 5 Houston 5 Dallas, Fort
Worth 4 Detroit 4 Miami 4 Phoenix 4 Philadelphia 4 San Francisco 3
Boston 3 Atlanta 3
(a) Calculate the mean and standard deviation for this...
6. The following data represents a company’s revenue in millions of dollars. Year: 2010 2012 2014...
6. The following data represents a company’s revenue in millions
of dollars. Year: 2010 2012 2014 2015 2016 2018 2019 Revenue: 30 32
34 35 39 39 45 Let the year 2010 be the base year with x=0.
a) Model the data with a linear function using the points in
years 2010 and 2019. Round computed values to 2 decimal places.
Also, using your model predict the revenue in the year 2021
accurate to 3 decimal places.
b) Set up...
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