Question: 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

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.

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

Step by Step Solution

★★★★★

3.46 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b A straight line model relating an NFL teams current value to its operating income ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

766-M-S-L-R (7101).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Refer to the Forbes magazine 2015 report on the financial standings of each team in the National Football League (NFL), Exercise 2.26. The table listing the current value (without deduction for debt,...

In an article in IEEE Transactions on Instrumentation and Measurement (2001, Vol. 50, pp. 986990), researchers reported on a study of the effects of reducing current draw in a magnetic core by...

Each year Forbes reports on the value of all teams in the National Football League. Although England's soccer team, Manchester United, is the most valuable team in the world ($1.8 billion), the NFL...

Refer to the Forbes magazine (Jan. 11,1999) report on the financial standings of each team in the National Football League (NFL), Exercise 2.113 (p. 113). The table listing the current value (without...

11.116 MONETARY VALUES OF NFL TEAMS. Refer to the Forbes magazine 2015 report on the financial standings of each team in the National Football League (NFL), Exercise 2.26 (p. 59). The table listing...

Forbes magazine (Jan. 11,1999) reported the financial standings of each team in the National Football League (NFL). The next table lists current team value (without deduction for debt, except stadium...

1. In 2013, several data server companies took a dramatic decision to begin using energy surcharges to recapture rising energy costs. However, customers are critical of how the energy surcharges are...

Please use the Following Information in the exhibits and Case Study above to answer the following questions in paragraph forms. Please make sure to read carefully and answer concise as possible by...

Nike Inc Case Study Please use the Following Information in the exhibits and information from the Case Study above to answer the following questions in paragraph form in about a 4-5 page analysis -...

The sweatshop scandal of the 1990s, which revealed that Nike used forced child labor to manufacture its products, greatly damaged the company. Nike has ever since been plagued with the claims of...

2. Let B1 C R? be the unit disc and let B = B1n {(x, y) E R : y > 0}. Let u be a function that is harmonic on B and continuous on B. Assume that u vanishes on Bn{(x,y) E R : y = 0} = {(x,0) E R : x E...

Find the probability that a randomly chosen group of 9 people have no birthdays in common, but randomly chosen person #10 has a birthday in common with one of the first 9.

A firm expects to sell 2 6 , 3 0 0 units of its product at $ 1 8 per unit. Income is predicted to be $ 6 1 , 3 0 0 . If the variable costs per unit are $ 9 , total fixed costs must be:

Sharpen Your Skills: Working with Percentages The Bureau of Labor Statistics reports the average hourly wage rate for nonagricultural workers each year. Use the data in the table to calculate the...

The U.S. Department of Agriculture (USDA) Center for Nutrition Policy and Promotion (CNPP) uses the Healthy Eating Index to monitor the diet quality of the U.S. population, particularly how well it...

University administrators have collected the following information concerning student grade point average and the school of the students major. Determine if there is any association between GPA and...

An increasing number of public school districts are utilizing the iPad as a teaching tool. For example, one high school in Long Island recently distributed 47 iPads to the students and teachers in...

Bullock Prosthetics is planning to buy 3-D printing machinery costing $380,000. This machinerys expected useful life is 5 years. They require a minimum rate of return of 8%, and have calculated the...

1. Consider an artery with parameters a=D.4cm, = 40cmfs, ,u = 3 x 10'3stm2, p = lkyfm? Estimate the Reynolds number, Re, and what kind of flow, laminar or turbulent, is expected in this vessel. 2....

Question 8 Assume that the joint density function fx,y (x, y) of random variables X and Y is non-zero in the area 0 1 and y > 1. (c) So So Fxy (u, v) dudu = 1. (d) FXY (2, 2) S FXY (2, 1)