Ballplayers have been signing ever larger contracts. The highest salaries (in millions of dollars per season) for each year since 1874 is in the file on the CD. (Data in Baseball salaries 2013). Here are recent entries:

a) Examine a scatterplot of the data. Does it look straight?
b) Part of the problem is that the salaries have not been adjusted for inflation. Plot the Adjusted (for inflation) Salary against Year. Is it straight now?
c) Find the best re-expression that you can to straighten out the scatterplot in b) and plot that against Year.
d) Fit the regression for the re-expression you found in c)
e) What is the R2 of the regression in d)?
f) Plot the residuals of the model in d) against Year
g) Comment on the accuracy of the model you found given the residual plot in f).

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Player Nolan Ryan George Foster Kirby Puckett Jose Canseco Roger Clemens 1991 Ken Griffey, r1986 Albert Belle Pedro Martinez 1998 Mike Piazza Mo Vaughn Kevin Brown Carlos Delgado 2001 Alex Rodriguez 2001 Manny Ramirez 2004 Alex Rodriguez 2005 Derek Jeter Jason Giambi Alex Rodriguez 2009 Alex Rodriguez 2010 Alex Rodriguez 2011 Alex Rodriguez 2012 Alex Rodriguez 2013 Year 1980 1982 1990 1990 Salary (million $) 1.0 3.0 5.3 8.5 11.0 12.5 12.5 13.3 15.0 17.0 1997 1999 1999 1999 22.5 26.0 20.6 23.4 33.0 33.0 32.0 30.0 29.0 2006 2007