Question: is there a relationship between total team salary and team...
Is there a relationship between total team salary and team performance in a sport such as professional basketball? To answer this question we will examine the number of wins and total team payroll in a recent season for all the teams in the National Basketball Association (NBA). The data are in this Excel file. (SEE DATA BELOW)
Question 1. Let the x-variable be the team payroll and let the y-variable be the team wins. Find the intercept b0 and slope b1 of the least squares prediction line (Wins)^^^ = b0 + b1*Payroll.
Question 2. If an NBA team spent an additional $11.9 million in team salary, how many more games could the team expect to win? (Use 1 decimal place in your answer).
Question 3. Suppose a basketball team spent $115 million on salaries and won 46 games. What is the residual for this basketball team? (use 2 decimal places in your answer)
Question 4. All teams have a goal to make the postseason playoffs. A basketball team thinks that it can make the playoffs next year if it wins 11 more games. How much should the basketball team increase its payroll if it wants to make the playoffs next year? Note: Use 2 decimal places. Your answer should be in units of $1 million; do NOT include a dollar sign in the answer; for example, if a team should increase its payroll by $5,250,000, then the answer is 5.25.