Refer to the data set below to determine whether there is a statistically significant association between the payroll (in millions of dollars) for eight Major League Baseball teams for a particular season and the number of times the teams won that season. Payroll $209 $139 $101 $74 $67 $49 $119 $98 Wins 89 74 86 74 68 67 97 92 Use technology (calculator or Excel) to answer the following (provide the function selected within the technology used). a) Identify the linear equation that best fits the data and interpret the results. b) Predict the number of wins for a team that has invested $90 million in payroll. c) Determine the correlation coefficient and interpret its meaning in context of this proble
Refer to the data set below to determine whether there is a statistically significant association between the payroll (in millions of dollars) for eight Major League Baseball teams for a particular season and the number of times the teams won that season.
|
Payroll |
$209 |
$139 |
$101 |
$74 |
$67 |
$49 |
$119 |
$98 |
|
Wins |
89 |
74 |
86 |
74 |
68 |
67 |
97 |
92 |
Use technology (calculator or Excel) to answer the following (provide the
a) Identify the linear equation that best fits the data and interpret the results.
b) Predict the number of wins for a team that has invested $90 million in payroll.
c) Determine the
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