The following table lists a portion of Major League Baseball's (MLB's) leading pitchers, each pitcher's salary (In $ millions), and earned run average (ERA) for 2008. J. Santana C. Lee Salary 17.0 4.0 ERA 2.53 2.54 C. Hamels 0.5 3.09 SOURCE: http://www.ESPN.com. S Click here for the Excel Data File a-1. Estimate the model: Salary = Bo + B1ERA + ɛ. (Negative values should be indicated by a minus sign. Enter your answers, in millions, rounded to 2 decimal places.) Salary = ERA a-2. Interpret the coefficient of ERA. O A one-unit increase in ERA, predicted salary decreases by $3.82 million. OA one-unit increase in ERA, predicted salary increases by $3.82 million. OA one-unit increase in ERA, predicted salary decreases by $14.61 million. OA one-unit increase in ERA, predicted salary increases by $14.61 million. b. Use the estimated model to predict salary for each player, given his ERA. For example, use the sample regression equation to predict the salary for J. Santana with ERA = 2.53. (Round coefficient estimates to at least 4 decimal places and final answers, in millions, to 2 decimal places.) Predicted Salary (in $ millions) J. Santana C. Lee T. Lincecum C. Sabathia R. Halladay J. Peavy D. Matsuzaka R. Dempster B. Sheets C. Hamels c. Derive the corresponding residuals. (Negative values should be indicated by a minus sign. Round coefficient estimates to at least 4 decimal places and final answers, in millions, to 2 decimal places.) Residual е -у-ў J. Santana C. Lee T. Lincecum C. Sabathia R. Halladay J. Peavy D. Matsuzaka R. Dempster B. Sheets C. Hamels
The following table lists a portion of Major League Baseball's (MLB's) leading pitchers, each pitcher's salary (In $ millions), and earned run average (ERA) for 2008. J. Santana C. Lee Salary 17.0 4.0 ERA 2.53 2.54 C. Hamels 0.5 3.09 SOURCE: http://www.ESPN.com. S Click here for the Excel Data File a-1. Estimate the model: Salary = Bo + B1ERA + ɛ. (Negative values should be indicated by a minus sign. Enter your answers, in millions, rounded to 2 decimal places.) Salary = ERA a-2. Interpret the coefficient of ERA. O A one-unit increase in ERA, predicted salary decreases by $3.82 million. OA one-unit increase in ERA, predicted salary increases by $3.82 million. OA one-unit increase in ERA, predicted salary decreases by $14.61 million. OA one-unit increase in ERA, predicted salary increases by $14.61 million. b. Use the estimated model to predict salary for each player, given his ERA. For example, use the sample regression equation to predict the salary for J. Santana with ERA = 2.53. (Round coefficient estimates to at least 4 decimal places and final answers, in millions, to 2 decimal places.) Predicted Salary (in $ millions) J. Santana C. Lee T. Lincecum C. Sabathia R. Halladay J. Peavy D. Matsuzaka R. Dempster B. Sheets C. Hamels c. Derive the corresponding residuals. (Negative values should be indicated by a minus sign. Round coefficient estimates to at least 4 decimal places and final answers, in millions, to 2 decimal places.) Residual е -у-ў J. Santana C. Lee T. Lincecum C. Sabathia R. Halladay J. Peavy D. Matsuzaka R. Dempster B. Sheets C. Hamels
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Question
Salary ERA
| J. Santana | 17.0 | 2.53 |
| C. Lee | 4.0 | 2.54 |
| T. Lincecum | 0.4 | 2.62 |
| C. Sabathia | 11.0 | 2.7 |
| R. Halladay | 10.0 | 2.78 |
| J. Peavy | 6.5 | 2.85 |
| D. Matsuzaka | 8.3 | 2.9 |
| R. Dempster | 7.3 | 2.96 |
| B. Sheets | 12.1 | 3.09 |
| C. Hamels | 0.5 | 3.09 |
Transcribed Image Text:The following table lists a portion of Major League Baseball's (MLB's) leading pitchers, each pitcher's salary (In $
millions), and earned run average (ERA) for 2008.
J. Santana
C. Lee
Salary
17.0
4.0
ERA
2.53
2.54
C. Hamels
0.5
3.09
SOURCE: http://www.ESPN.com.
S Click here for the Excel Data File
a-1. Estimate the model:
Salary = Bo + B1ERA + ɛ. (Negative values should be indicated by a minus sign. Enter your answers, in millions,
rounded to 2 decimal places.)
Salary =
ERA
a-2. Interpret the coefficient of ERA.
O A one-unit increase in ERA, predicted salary decreases by $3.82 million.
OA one-unit increase in ERA, predicted salary increases by $3.82 million.
OA one-unit increase in ERA, predicted salary decreases by $14.61 million.
OA one-unit increase in ERA, predicted salary increases by $14.61 million.
b. Use the estimated model to predict salary for each player, given his ERA. For example, use the sample regression
equation to predict the salary for J. Santana with ERA = 2.53. (Round coefficient estimates to at least 4 decimal places
and final answers, in millions, to 2 decimal places.)
Predicted
Salary (in $
millions)
J. Santana
C. Lee
T. Lincecum
C. Sabathia
R. Halladay
J. Peavy
D.
Matsuzaka
R. Dempster
B. Sheets
C. Hamels
Transcribed Image Text:c. Derive the corresponding residuals. (Negative values should be indicated by a minus sign. Round coefficient
estimates to at least 4 decimal places and final answers, in millions, to 2 decimal places.)
Residual
е -у-ў
J. Santana
C. Lee
T. Lincecum
C. Sabathia
R. Halladay
J. Peavy
D.
Matsuzaka
R. Dempster
B. Sheets
C. Hamels
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