Recent BASEBALL Team Payrolls and Wins Team Payroll Wins Boston Red Sox 197.041 93 Cleveland Indians 124.116 102 Los Angeles Angels 166.375 80 New York Yankees 196.39 91 Arizona Diamondbacks 127.829 93 Colorado Rockies 127.829 87 Philadelphia Phillies 100.041 66 San Diego Padres 69.624 71 Detroit Tigers 199.751 64 New York Mets 154.437 70 Seattle Mariners 154.319 78 Chicago Cubs 172.2 92 Atlanta Braves 122.603 72 Milwaukee Brewers 63.061 86 Toronto Blue Jays 163.382 76 Los Angeles Dodgers 241.149 104 Minnesota Twins 108.103 85 St. Louis Cardinals 148.153 83 Oakland Athletics 81.738 75 Texas Rangers 165.348 78 Houston Astros 124.344 101 Washington Nationals 164.335 97 Cincinnati Reds 95.376 68 Chicago White Sox 97.8 67 Miami Marlins 115.406 77 San Francisco Giants 180.823 64 Baltimore Orioles 164.326 75 Kansas City Royals 143.006 80 Pittsburgh Pirates 95.807 75 Tampa Bay Rays 70.065 80 1) If an MLB team spent an additional $28 million in team salary, how many more games could the team expect to win? 2) What is the residual for this team? 3) All teams have a goal to make the postseason playoffs. A baseball team thinks that it can make the playoffs next year if it wins 8 more games. How much should the baseball team increase its payroll if it wants to make the playoffs next yea

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Recent BASEBALL Team Payrolls and Wins
Team	Payroll	Wins
Boston Red Sox	197.041	93
Cleveland Indians	124.116	102
Los Angeles Angels	166.375	80
New York Yankees	196.39	91
Arizona Diamondbacks	127.829	93
Colorado Rockies	127.829	87
Philadelphia Phillies	100.041	66
San Diego Padres	69.624	71
Detroit Tigers	199.751	64
New York Mets	154.437	70
Seattle Mariners	154.319	78
Chicago Cubs	172.2	92
Atlanta Braves	122.603	72
Milwaukee Brewers	63.061	86
Toronto Blue Jays	163.382	76
Los Angeles Dodgers	241.149	104
Minnesota Twins	108.103	85
St. Louis Cardinals	148.153	83
Oakland Athletics	81.738	75
Texas Rangers	165.348	78
Houston Astros	124.344	101
Washington Nationals	164.335	97
Cincinnati Reds	95.376	68
Chicago White Sox	97.8	67
Miami Marlins	115.406	77
San Francisco Giants	180.823	64
Baltimore Orioles	164.326	75
Kansas City Royals	143.006	80
Pittsburgh Pirates	95.807	75
Tampa Bay Rays	70.065	80

1) If an MLB team spent an additional $28 million in team salary, how many more games could the team expect to win?

2) What is the residual for this team?

3) All teams have a goal to make the postseason playoffs. A baseball team thinks that it can make the playoffs next year if it wins 8 more games. How much should the baseball team increase its payroll if it wants to make the playoffs next year?

Is there a relationship between total team salary and team performance in a sport such as professional baseball? To answer this question we will examine the number of wins and total team payroll in a recent season for all the teams in the Major League Baseball (MLB). The data are in this Excel file.
Question 1. Let the x-variable be the team payroll and let the y-variable be the team wins. Find the intercept bo and slope by of the least squares prediction line Wins = bo + b₁*Payroll.

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