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hw2 - salaries based on performance and the text file...

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Probelm 1. In case of Simple Linear Regression show that sum of residuals, n i ( y i - ˆ y i ) is zero. Problem 2. A linear regression model with five predictor variables was fit to a data set with 150 observations. The correlation between Y and ˆ Y was 0 . 8. The regression sum of squares was 60. 1. What is the value of R 2 ? 2. What is the value of the total sum of squares? 3. What is the value of the residual sum of squares? 4. What is the value of the residual mean square? Problem 3. This problem uses the baseball salary data available on the course web site under “Course Documents”. The Excel file “Baseball.xls” contains data on baseball
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Unformatted text preview: salaries based on performance, and the text file “Baseball.txt” describes the raw data. Using statistical software, 1. Find a good model for predicting the salaries based on the other variables. Write a short description of your model and how you arrived at it. Consider transformations of the predictor variables, but not of the salary itself. 2. Based on your model, which three players are the most overpaid? Which three are the most underpaid? How might your model be used by players and teams in salary negotiations? 1...
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