Please show work. Thank you!! QUESTION 23 Below is some of the regression output
ID: 3267179 • Letter: P
Question
Please show work. Thank you!!
QUESTION 23 Below is some of the regression output from a simple regression of the number of wins for a major league baseball tam and the size amount of money the team is paying its players (expressed millions of $'s) SUMMARY OUTPUT Wins v. Team Payroll Regressiorn Statistics Multiple R R Square Adjusted R Square Standard Error Observations 30 ANOVA df Regression Residual Total 1032.6 2109.7 MS 10326 75.3 13.7 Coefficients Standard Error tStat P-value Lower 95% Upper 95% 16.8 3.515E-16 594 75.9 4.02 Intercept Payroll 67.6 0.205 0.068 0.0009 0.387 Based on the regression output, what lower bound of he 95% con dence interval for ne ce tie Pavol Opleue em ei urn mer sm) detuna acesExplanation / Answer
Regression Statistics
Multiple R
sqrt*1032.6/3142.3) = 0.5732
R Square
1032.6/3142.3 = 0.3286
Adjusted R Square
1-((((1932.6/3142.3)-1)*(30-1))/(30-1-1))
Standard Error
sqrt (2099.7/28) = 8.6776
Observations
28 + 1 + 1 = 30
ANOVA
df
SS
MS
F
Regression
1032.6/1032.6 = 1
1032.6
1032.6
13.7
Residual
2109.7 / 75.3 = 28
2109.7
75.3
Total
1032.6 + 2109.7 = 3142.3
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Intercept
67.6
4.02
16.8
3.52E-16
59.4
75.9
Payroll
0.205
0.068
0.205 / 0.068
0.0009
0.205-(2.048*0.068)
0.387
Regression Statistics
Multiple R
0.5732
R Square
0.3286
Adjusted R Square
1.6954
Standard Error
8.6776
Observations
30
ANOVA
df
SS
MS
F
Regression
1
1032.6
1032.6
13.7
Residual
28
2109.7
75.3
Total
29
3142.3
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Intercept
67.6
4.02
16.8
3.52E-16
59.4
75.9
Payroll
0.205
0.068
3.015
0.0009
0.066
0.387
The lower bound of the 95% confidence interval is 0.066
Regression Statistics
Multiple R
sqrt*1032.6/3142.3) = 0.5732
R Square
1032.6/3142.3 = 0.3286
Adjusted R Square
1-((((1932.6/3142.3)-1)*(30-1))/(30-1-1))
Standard Error
sqrt (2099.7/28) = 8.6776
Observations
28 + 1 + 1 = 30