please answer all parts 2. Using data from the 2007 Major League Baseball season

Question

please answer all parts

2. Using data from the 2007 Major League Baseball season (World Series champions: Boston Red Sox) Sammy Stat estimated the following simple regression (or P) equation Expected Team Wins (in number of games) Wins 70.097 +0.132Team Salary (in $millions) a. Interpret the value of the estimated slope coefficient for Team Salary b. Is the baseline value (or intercept) meaningful? Explain briefly. c. If team A spent $10,000,000 more on salaries than team B, how many more games would you expect team A to have won than team B? d. If a team spent $110,000,000 on salaries and won half (or 81) of its 162 games, did the team "get its money's worth?" Explain briefly

Explanation / Answer

a) Slope means the change in y with 1 unit change in x

Hence here we can say that the team expects to win 0.132 games with every million increase in team salary.

0.132

b)

The intercept means that,the team is always expected to win 70.097 games whether the team is given

salarynot.

But in reality which player plays without getting their salary. Hence I feel the intercept is not meaningful.

c) diference it both

xA-xB=10m

Hence yA-yB=0.132*10=1.32 games

d)

y=70.097+0.132*11=71.549

given that won 81 games.

Error=(81-71.549)/71.549

=13.2%

    it was expecting wins< actual team won .

Hence ts worth the money

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