The data data414.dat gives the values of the 29 teams in the National Basketball

Question

The data data414.dat gives the values of the 29 teams in the National Basketball Association, along with their operating incomes and revenues (given in millions of dollars). Plots and correlations show that revenue predicts team value much better than does operating income. The least-squares regression line for predicting value from revenue is as follows. value = -141.446 + 4.358 revenue (a) What is the slope of this line? (Round your answer to three decimal places.)

My Notes o Ask Your Teacher 1. 13 points I Previous Answers MIntroStat6 2.E.062. The data data414.dat gives the values of the 29 teams in the National Basketball Association, along with their operating incomes and revenues (given in millions of dollars). Plots and correlations show that revenue predicts team value much better than does operating income. The least-squares regression line for predicting value from revenue is as follows. value 141.446 4.358 revenue (a) What is the slope of this line? (Round your answer to three decimal places.) 4.358 (b) The CAVALIERS are the NBA's most valuable team, valued at $458 million, with $141 million in revenue. Use the line to predict the value of the CAVALIERS from their revenue. What is the error in this prediction? (Round your answer to three decimal places 3.177 x millions of dollars (c) What is the correlation of revenue and value? (Round your answer to three decimal places Enter a numbe Submit Answer

Explanation / Answer

The regression equation is

y=-14.446+4.358(x)

a) from above equation

slope=4.358

b) y=-14.446+4.358(x)

when x=141

y=600.03

error=actual-predicted = 458 -600.3 =142.03

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