Compute the correlation between average 2007 price and number of 2007 wins for these 16 teams. (Assume the correlation conditions have been satisfied and round your answer to the nearest 0.001.)
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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.
| 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 |
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