The average salary of Major League Baseball players on opening day from 2000 to 2010 is stored in the following table. Year Salary ($millions) (Please let the coded year start from 0) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 A. Fit a linear trend forecasting model. What is the coefficient of the coded year? B. Fit a quadratic trend forecasting model. What is the coefficient of the quadratic term? C. Which model is the most appropriate? A D. Using the most appropriate model, forecast the average salary for 2011. 1.99 2.29 2.38 2.58 2.49 2.63 2.83 2.92 3.13 3.26 3.27 (Round to 3 decimal places) (Round to 5 decimal places) (put "A" for linear model, "B" for quadratic model) (round to 3 decimal places)

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The average salary of Major League Baseball players on opening day from 2000 to 2010 is stored in the following table.
Year
Salary ($millions)
(Please let the coded year start from 0)
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
A. Fit a linear trend forecasting model. What is the coefficient of the coded year?
B. Fit a quadratic trend forecasting model. What is the coefficient of the quadratic term?
C. Which model is the most appropriate? A
D. Using the most appropriate model, forecast the average salary for 2011.
1.99
2.29
2.38
2.58
2,49
2.63
2.83
2.92
3.13
3.26
3.27
(Round to 3 decimal places)
(Round to 5 decimal places)
(put "A" for linear model, "B" for quadratic model)
(round to 3 decimal places)
Transcribed Image Text:The average salary of Major League Baseball players on opening day from 2000 to 2010 is stored in the following table. Year Salary ($millions) (Please let the coded year start from 0) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 A. Fit a linear trend forecasting model. What is the coefficient of the coded year? B. Fit a quadratic trend forecasting model. What is the coefficient of the quadratic term? C. Which model is the most appropriate? A D. Using the most appropriate model, forecast the average salary for 2011. 1.99 2.29 2.38 2.58 2,49 2.63 2.83 2.92 3.13 3.26 3.27 (Round to 3 decimal places) (Round to 5 decimal places) (put "A" for linear model, "B" for quadratic model) (round to 3 decimal places)
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