Question 1 What is the relationship between NBA Player Salaries in season 2017- 2018 and...
Question 1: What is the relationship between NBA Player Salaries (in season 2017- 2018) and the total points scored in the previous season (season 2016-2017)? To answer problem 1, follow below four steps and provide responses for questions 1 to 8.
Step 1) Collect response variable Y= Salary in the season 17-18 Use this link (http://www.espn.com/nba/salaries) to choose a random list of 20 players from list of 455 NBA players. Don’t pick only the top 20. Choose your sample randomly. For those 20 players you chose, record their salaries in season 17-18. For example, Lebron James salary in the current season is $33,285,709.
Step 2) Collect predictor variable X= Total points in season 16-17 From above link, click on each player’s name and find the total points they made in last season (season 16-17). See page 3 for the step-by step guideline. For example, Lebron James scored 1954 points in the last season.
Step 3) Organize your predictor variable (X) and response variable (Y) in Excel in a table similar to this: Player N
Step 4) Use Excel to answer below questions. 1. Draw a Scatter Plot (5 points) 2. What is the equation of the linear regression line that fits this sample? 3. Interpret the slope of your equation. 4. How much is the coefficient of determination? How do you interpret it? 5. Calculate a 95% confidence interval for the slope and interpret your interval.6. Calculate a 95% confidence interval for mean of salaries for players who have scored a total of 1000 points in the previous season.7. Calculate a 95% predication interval for the salary of a single player who has scored a total of 1000 points in the previous season.8. Why your answer to question 6 and 7 differ? Which interval is wider and why?
You'll get a 39.4KB .XLSX file.