11v On December 17, 2007 baseball writer John Hickey wrote an article for the Se

Question

11v On December 17, 2007 baseball writer John Hickey wrote an article for the Seattle P-I about increases to ticket prices for Seattle Mariners games during the 2008 season. The article included a data set that listed the average ticket price for each MLB team, the league in which the team plays (AL or NL), the number of wins during the 2007 season and the cost per win (in dollars). The data for the 16 National League teams are shown below.

Compute the correlation between average 2007 price and cost per win for these 16 teams. (Assume the correlation conditions have been satisfied and round your answer to the nearest 0.001.)

team league price    wins cost/win Arizona Diamondbacks NL 19.68 90 35.40 Atlanta Braves NL 17.07 84 32.89 Chicago Cubs NL 34.30 85 65.33 Cincinnati Reds NL 17.90 72 40.32 Colorado Rockies NL 14.72 90 26.67 Florida Marlins NL 16.70 71 38.13 Houston Astros NL 26.66 73 59.11 Los Angeles Dodgers NL 20.09 82 34.64 Milwaukee Brewers NL 18.11 83 35.37 N.Y. Mets NL 25.28 88 46.56 Philadelphia Phillies   NL 26.73 89 48.69 Pittsburgh Pirates NL 17.08 68 40.67 San Diego Padres NL 20.83 89 38.15 San Francisco Giants NL 24.53 71 56.00 St. Louis Cardinals NL 29.78 78 61.91 Washington Nationals NL 20.88 73 46.30

Explanation / Answer

The statistical software output for this problem is:

Correlation between price and cost/win is:
0.91760091

Hence,

Correlation coefficient = 0.918

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