1. The average salaries (in millions of dollars) of Major League Baseball players from 2000 through...

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1. The average salaries (in millions of dollars) of Major League Baseball players from 2000 through 2007 are shown below in the table. Year Average (in millions of dollars) 2000 1.9 2001 2.1 2002 2.3 2003 2.4 2004 2.3 2005 2.5 2006 2.7 2007 2.8 a) Draw a scatter plot for the data in the table above. Be sure to label the axes. b) Draw a line of best fit for the data on the scatter plot above. c) Let y represent the average salary (in millions) and let t represent the year, with t = 0 corresponding to 2000. Find a linear model for this data that gives the average salary y for year t using the line of best fit that you drew above. Show your work. d) Using the model found above, what is the predicted average salary for 2018? Show your work. Also, The actual average salary in 2018 was $4.5 million (source: MLB.com). How does your predicted average salary compare to the actual one? Predicted average salary for 2018 = Comparison: 1. The average salaries (in millions of dollars) of Major League Baseball players from 2000 through 2007 are shown below in the table. Year Average (in millions of dollars) 2000 1.9 2001 2.1 2002 2.3 2003 2.4 2004 2.3 2005 2.5 2006 2.7 2007 2.8 a) Draw a scatter plot for the data in the table above. Be sure to label the axes. b) Draw a line of best fit for the data on the scatter plot above. c) Let y represent the average salary (in millions) and let t represent the year, with t = 0 corresponding to 2000. Find a linear model for this data that gives the average salary y for year t using the line of best fit that you drew above. Show your work. d) Using the model found above, what is the predicted average salary for 2018? Show your work. Also, The actual average salary in 2018 was $4.5 million (source: MLB.com). How does your predicted average salary compare to the actual one? Predicted average salary for 2018 = Comparison: