# Question: The following data show the annual revenue millions and

The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 teams in the National Football League (Forbes website, February 2009).

a. Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis. Looking at the scatter diagram, does it appear that there are any outliers and/or influential observations in the data?

b. Develop the estimated regression equation that can be used to predict team value given the value of annual revenue.

c. Use residual analysis to determine whether any outliers and/or influential observations are present. Briefly summarize your findings and conclusions.

a. Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis. Looking at the scatter diagram, does it appear that there are any outliers and/or influential observations in the data?

b. Develop the estimated regression equation that can be used to predict team value given the value of annual revenue.

c. Use residual analysis to determine whether any outliers and/or influential observations are present. Briefly summarize your findings and conclusions.

**View Solution:**## Answer to relevant Questions

What is the purpose of testing whether β1 = 0? If we reject β1 = 0, does it imply a good fit? A marketing professor at Givens College is interested in the relationship between hours spent studying and total points earned in a course. Data collected on 10 students who took the course last quarter follow. Hours ...Refer to exercise 5. a. Use α = .01 to test the hypotheses H0: β1 = β2 = 0 Ha: β1 and/or β2 is not equal to zero For the model y = β0 + β1x1 + β2x2 + ε, where x1 = television advertising ($1000s) x2 = newspaper ...Exercise 5 gave the following data on weekly gross revenue, television advertising, and newspaper advertising for Showtime Movie Theaters. a. Find an estimated regression equation relating weekly gross revenue to television ...Consumer Reports provided extensive testing and ratings for 24 treadmills. An overall score, based primarily on ease of use, ergonomics, exercise range, and quality, was developed for each treadmill tested. In general, a ...Post your question