Correlation Analysis
The graph shows the relationship between the number of games won by a Chicago basketball team and the average salary (in millions) for a ten-year period. Use the scatter plot, the residuals plot, and part of the regression analysis to answer the question.
Dependent variable is: # of wins
R-squared= 65%Variable | Coefficient
Constant | 302,045.37
Salary | 8.973
a) Is a linear model appropriate here?
b) Interpret the meaning of R-squared in this context.
c) What is the correlation between salary and average wins?
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