This is a practice test. I would like to know how to solve using excel or megastat The following table lists a portion of Major League Baseball’s (MLB’s) leading pitchers, each pitcher’s salary (In $ millions), and earned run average (ERA) for 2008. Salary ERA J. Santana 16.0 2.38 C. Lee 1.0 2.50 ⋮ ⋮ ⋮ C. Hamels 0.1 2.93 Excel Data Salary ERA J. Santana 16.0 2.38 C. Lee 1.0 2.50 T. Lincecum 0.4 2.21 C. Sabathia 6.0 2.00 R. Halladay 5.0 2.12 J. Peavy 5.4 2.75 D. Matsuzaka 6.8 2.72 R. Dempster 5.6 2.10 B. Sheets 10.5 2.85 C. Hamels 0.1 2.93 a-1. Estimate the model: Salaryˆ= β0 + β1ERA + ε. Salary = ? + ? ERA a-2. Interpret the coefficient of ERA. multiple choice A one-unit increase in ERA, predicted salary decreases by $0.11 million. A one-unit increase in ERA, predicted salary increases by $0.11 million. A one-unit increase in ERA, predicted salary decreases by $5.84 million. A one-unit increase in ERA, predicted salary increases by $5.84 million. c. Use the estimated model to predict salary for each player, given his ERA. For example, use the sample regression equation to predict the salary for J. Santana with ERA = 2.38. Name Predicted Salary in Millions J Santana C Lee T Lincecum C Sabathia R Halladay J Peavy Matsuzaka R Dempster B Sheets C Hamels

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Publisher:R. David Gustafson, Jeff Hughes

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This is a practice test. I would like to know how to solve using excel or megastat

The following table lists a portion of Major League Baseball’s (MLB’s) leading pitchers, each pitcher’s salary (In $ millions), and earned run average (ERA) for 2008.

	Salary	ERA
J. Santana		16.0	2.38
C. Lee		1.0	2.50
⋮		⋮	⋮
C. Hamels		0.1	2.93

Excel Data

	Salary	ERA
J. Santana	16.0	2.38
C. Lee	1.0	2.50
T. Lincecum	0.4	2.21
C. Sabathia	6.0	2.00
R. Halladay	5.0	2.12
J. Peavy	5.4	2.75
D. Matsuzaka	6.8	2.72
R. Dempster	5.6	2.10
B. Sheets	10.5	2.85
C. Hamels	0.1	2.93

a-1. Estimate the model: Salaryˆ=

β₀ + β₁ERA + ε.

Salary = ? + ? ERA

a-2. Interpret the coefficient of ERA.

multiple choice

A one-unit increase in ERA, predicted salary decreases by $0.11 million.
A one-unit increase in ERA, predicted salary increases by $0.11 million.
A one-unit increase in ERA, predicted salary decreases by $5.84 million.
A one-unit increase in ERA, predicted salary increases by $5.84 million.

c. Use the estimated model to predict salary for each player, given his ERA. For example, use the sample regression equation to predict the salary for J. Santana with ERA = 2.38.

Name Predicted Salary in Millions
J Santana
C Lee
T Lincecum
C Sabathia
R Halladay
J Peavy
Matsuzaka
R Dempster
B Sheets
C Hamels