Team Revenue Value Baltimore 245 1000 Boston 370 2100 Chicago White Sox 227 975

Question

Team Revenue Value Baltimore 245 1000 Boston 370 2100 Chicago White Sox 227 975 Cleveland 207 825 Detroit 254 1125 Houston 175 800 Kansas City 231 700 Los Angeles Angels 304 1300 Minnesota 223 895 New York Yankees 508 3200 Oakland 202 725 Seattle 250 1100 Tampa Bay 188 625 Texas 266 1220 Toronto 226 870 Arizona 211 840 Atlanta 267 1150 Chicago Cubs 302 1800 Cincinnati 227 885 Colorado 214 855 Los Angeles Dodgers 403 2400 Miami 188 650 Milwaukee 226 875 New York Mets 263 1350 Philadelphia 265 1250 Pittsburgh 229 900 St. Louis 294 1400 San Diego 225 890 San Francisco 387 2000 Washington 287 1280 M umail Microsoft word OnL· Login l BlazeriD Q Chapter 1 ECON FL d Top 10 Statticar. Question 1 Virtual 20 pts What is the estimate of bo the Y-intercept? Round your answer to 1 decimal place. Access Connect Proctoru D Question 2 20 pts What is the value of b,, the coefficient of Revenue? Round your answer to 2 decimal places. 20 pts D Question 3 What is the estimated value On millions of dollars) of a team with 350 million dollars in revenue? Fsund your answer to 1 decimal place. 20 pts D Question 4 MacBook Air

Explanation / Answer

q1. B0= -841.88

q2. B1: 7.787

q3:   value= -841.88 + 7.787revenue

value = -841.88 + 7.787*350   = 1883.57

q4: That can be explained by R-square value is 95.9% variation is explained.

SUMMARY OUTPUT Regression Statistics Multiple R 0.979376 R Square 0.959177 Adjusted R Square 0.957719 Standard Error 118.8687 Observations 30 ANOVA df SS MS F Significance F Regression 1 9295784 9295784 657.8869 5.44E-21 Residual 28 395633.3 14129.76 Total 29 9691418 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept -841.877 82.4939 -10.2053 6.13E-11 -1010.86 -672.896 -1010.86 -672.896 Revenue 7.787553 0.303617 25.64931 5.44E-21 7.165623 8.409483 7.165623 8.409483

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