Show me even more money

Please provide the solution to this problem below in Excel.xls format using the Data Analysis toolkit. The example answer key is also attached. Problem Show me even more money Running an agency that represents many professional athletes, you are often forced into serious contract negotiations. Having recently fired your assistant, you have decided to evaluate the data collected to support your argument that the player whose contract you are negotiating is currently underpaid. The data in the strikeouts3.xls file extends the previous dataset to include much more information. Start by conducting a regression using all of the data provided to predict salary. Do the signs of all of the coefficients make sense? Next, remove each of the variables that are insignificant based on a = 0.05. Are the variables that you removed jointly significant? How can you tell? Answer Key attached and below In running the regression, the y intercept= 962.0107408 with the coefficient being the salary, and 12 X variable coefficients being the stats of the players to prove their worth being y=-153.4x-373.44. This seems to imply the signs of the coefficients are correct. Intercept 962.010740841853 X Variable 1 -2322.66604529216 X Variable 2 -841.42606051179 X Variable 3 4.30169400113115 X Variable 4 7.70872024355646 X Variable 5 -6.64077238246832 X Variable 6 -24.8597419258571 X Variable 7 40.0174508423768 X Variable 8 13.6686450214728 X Variable 9 7.8942053442278 X Variable 10 -14.0936680813121 X Variable 11 10.9000059823633 X Variable 12 -18.1050235851051 The highlighted variables with a strike through them cannot be used as they are negative numbers and cannot be part of the salary base making them insignificant.. Document Preview: SUMMARY OUTPUT Regression Statistics Multiple R 0.730781342946408 R Square 0.534041371198556 Adjusted R Square 0.51678364420591 Standard Error 861.97994040431 Observations 337 ANOVA df SS MS F Significance F Regression 12 275909638.660545 22992469.8883787 30.9450584903866 8.5117870249784E-47 Residual 324 240735051.321651 743009.417659417 Total 336 516644689.982196 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 962.010740841853 405.748546431552 2.3709530183225 0.0183269086171854 163.776470663716 1760.24501101999 163.776470663716 1760.24501101999 X Variable 1 -2322.66604529216 3329.87014859048 -0.697524510460366 0.485974832072801 -8873.56189254686 4228.22980196254 -8873.56189254686 4228.22980196254 X Variable 2 -841.42606051179 2936.29350306915 -0.28656061106708 0.774631931369945 -6618.03357288547 4935.18145186189 -6618.03357288547 4935.18145186189 X Variable 3 4.30169400113115 6.96709081532431 0.617430447679749 0.537384526600211 -9.40475227241916 18.0081402746815 -9.40475227241916 18.0081402746815 X Variable 4 7.70872024355646 3.99349789829103 1.93031784162333 0.0544399825996315 -0.147738906662639 15.5651793937756 -0.147738906662639 15.5651793937756 X Variable 5 -6.64077238246832 10.5873544298678 -0.627236239842332 0.53094614778337 -27.4694092581113 14.1878644931747 -27.4694092581113 14.1878644931747 X Variable 6 -24.8597419258571 26.8072832124867 -0.927350292411489 0.354434973238671 -77.5980507596701 27.8785669079559 -77.5980507596701 27.8785669079559 X Variable 7 40.0174508423768 15.3891385327912 2.60036978399458 0.00973898290964999 9.74220309736709 70.2926985873866 9.74220309736709 70.2926985873866 X Variable 8 13.6686450214728 6.25343238831002 2.18578281057689 0.0295469548577419 1.36618803797489 25.9711020049707 1.36618803797489 25.9711020049707 X Variable Attachments: Show-me-even-.docx strikeouts3.xls Show-me-even-.docx; Please provide the solution to this problem below in Excel.xls format using the Data Analysis toolkit. The example answer key is also attached. Problem Show me even more money Running an agency that represents many professional athletes, you are often forced into serious contract negotiations. Having recently fired your assistant, you have decided to evaluate the data collected to support your argument that the player whose contract you are negotiating is currently underpaid. The data in the strikeouts3.xls file extends the previous dataset to include much more information. Start by conducting a regression using all of the data provided to predict salary. Do the signs of all of the coefficients make sense? Next, remove each of the variables that are insignificant based on a = 0.05. Are the variables that you removed jointly significant? How can you tell? Answer Key attached and below In running the regression, the y intercept= 962.0107408 with the coefficient being the salary, and 12 X variable coefficients being the stats of the players to prove their worth being y=-153.4x-373.44. This seems to imply the signs of the coefficients are correct. Intercept 962.010740841853 X Variable 1 -2322.66604529216 X Variable 2 -841.42606051179 X Variable 3 4.30169400113115 X Variable 4 7.70872024355646 X Variable 5 -6.64077238246832 X Variable 6 -24.8597419258571 X Variable 7 40.0174508423768 X Variable 8 13.6686450214728 X Variable 9 7.8942053442278 X Variable 10 -14.0936680813121 X Variable 11 10.9000059823633 X Variable 12 -18.1050235851051 The highlighted variables with a strike through them cannot be used as they are negative numbers and cannot be part of the salary base making them insignificant.. Document Preview: SUMMARY OUTPUT Regression Statistics Multiple R 0.730781342946408 R Square 0.534041371198556 Adjusted R Square 0.51678364420591 Standard Error 861.97994040431 Observations 337 ANOVA df SS MS F Significance F Regression 12 275909638.660545 22992469.8883787 30.9450584903866 8.5117870249784E-47 Residual 324 240735051.321651 743009.417659417 Total 336 516644689.982196 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 962.010740841853 405.748546431552 2.3709530183225 0.0183269086171854 163.776470663716 1760.24501101999 163.776470663716 1760.24501101999 X Variable 1 -2322.66604529216 3329.87014859048 -0.697524510460366 0.485974832072801 -8873.56189254686 4228.22980196254 -8873.56189254686 4228.22980196254 X Variable 2 -841.42606051179 2936.29350306915 -0.28656061106708 0.774631931369945 -6618.03357288547 4935.18145186189 -6618.03357288547 4935.18145186189 X Variable 3 4.30169400113115 6.96709081532431 0.617430447679749 0.537384526600211 -9.40475227241916 18.0081402746815 -9.40475227241916 18.0081402746815 X Variable 4 7.70872024355646 3.99349789829103 1.93031784162333 0.0544399825996315 -0.147738906662639 15.5651793937756 -0.147738906662639 15.5651793937756 X Variable 5 -6.64077238246832 10.5873544298678 -0.627236239842332 0.53094614778337 -27.4694092581113 14.1878644931747 -27.4694092581113 14.1878644931747 X Variable 6 -24.8597419258571 26.8072832124867 -0.927350292411489 0.354434973238671 -77.5980507596701 27.8785669079559 -77.5980507596701 27.8785669079559 X Variable 7 40.0174508423768 15.3891385327912 2.60036978399458 0.00973898290964999 9.74220309736709 70.2926985873866 9.74220309736709 70.2926985873866 X Variable 8 13.6686450214728 6.25343238831002 2.18578281057689 0.0295469548577419 1.36618803797489 25.9711020049707 1.36618803797489 25.9711020049707 X Variable Attachments: Show-me-even-.docx strikeouts3.xls Show-me-even-.docx

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