24) Below is some of the regression output from a simple regression of the number of wins for a major league baseball team and the size amount of money the team is paying its players (expressed in millions of $'s)*fill in blanks of the table*Based on the regression output, what is the correlation between the two variables? *round to 3 decimal places* SUMMARY OUTPUTWins v. Team PayrollRegression StatisticsMultiple RR SquareAdjusted R SquareStandard ErrorObservations30ANOVAdfSSMSRegression]1032.61032.613.7Residual2109.775.3TotalCoefficientsStandard Errort StatP-valueLower 95%Upper95%Intercept67.64.0216.83.515E-16 59.475.9Payroll0.2490.067310.00090.387

It is given that SS(regression) = 1032.6 SS(residual) = 2109.7, then SS(total) = 1032.6+2109.7 =…

Answered: Based on the regression output, what is…

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Based on the regression output, what is the correlation between the two variables

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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Question

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24) Below is some of the regression output from a simple regression of the number of wins for a major league baseball team and the size amount of money the team is paying its players (expressed in millions of $'s) *fill in blanks of the table* Based on the regression output, what is the correlation between the two variables? *round to 3 decimal places*

SUMMARY OUTPUT
Wins v. Team Payroll
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
30
ANOVA
df
SS
MS
Regression
]1032.6
1032.6
13.7
Residual
2109.7
75.3
Total
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper
95%
Intercept
67.6
4.02
16.8
3.515E-16 59.4
75.9
Payroll
0.249
0.0673
10.0009
0.387

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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