Ballplayers have been signing ever larger contracts. The highest salaries (in millions of dollars per season) for
Question:
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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Related Book For
Stats Data and Models
ISBN: 978-0321986498
4th edition
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
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