Question: The minimum salaries for major league baseball players are shown in Table 75 for various years. Let y be the minimum salary (in thousands of

The minimum salaries for major league baseball players are shown in Table 75 for various years.

Let y be the minimum salary (in thousands of dollars) at x years since 1970.
a. Construct a scatterplot.
b. Find an equation of a regression model.
c. Compute and interpret the coefficient of determination for the model.
d. Estimate the minimum salary in 2011.
e. Construct a residual plot. Identify two data points that might be considered outliers. Do you have much faith in your result in part (d)? Explain.

Table 75 Minimum Salaries for Major League Baseball Players Minimum Salary (thousands of dollars) Year 1970 1975 1980 985 1990 1995 2000 2005 2010 2012 12 16 30 60 100 109 200 316 400 480

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