The table listing the current value (without deduction for debt, except stadium debt) and operating income for each team is reproduced shown below.
a. Propose a straight-line model relating an NFL team's current value (y) to its operating income (x).
b. Fit the model to the data using the method of least squares.
c. Interpret the least squares estimates of the slope and y-intercept in the words of the problem.
d. Statistically assess the adequacy of the model. Do you recommend using it to predict an NFL team's value?

For Information: Refer to the Forbes magazine 2011 report on the financial standings of each team in the National Football League (NFL), Exercise 2.26.

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Current Value (Smil) 1-Yr Value Change (%) Debt Value Revenue Operating Income Rank Team Dallas Cowboys Washington Redskins New England Patriots New York Giants New York Jets Houston Texans 1,850 1.555 2 65,6 25.1 28.9 5 285 283 6 1,202 7 Philadelphia Eagles 8 Chicago Bears Green Bay Packers Baitimore Ravens Indianapolis Colts 1,093 9 10 259 12 Denver Broncos 13 Pittsburgh Steelers 14 Miami Dolphins 15 Carolina Panthers 16 Seattle Seahawks 17 San Francisco 49ers 1,046 1,018 255 257 997 Kansas City Chiefs 508 19 Tampa Bay Buccaneers 20 Cleveland Browns 21 New Orleans Saints 22 Tennesscc Titans 23 San Diego Chargers 24 Arizona Cardinals 25 Cincinnati Bengals 26 Detroit Lions 27Atlanta Falcons 28 Minnesota Vikings 29 Buffalo Bills 30 St. Louis Rams 31 Oakland Raiders 32 Jcksonville Jaguars 245 261 218 56.4 44.7 240 575 227 40.9 761 32,8