Question

For major league baseball teams, is there a relationship between player payrolls and gate money? Here are data for each of the National League teams for the year 2000 . The variable x denotes the 2000 player payroll (in millions of dollars), and the variable y denotes the mean attendance (in thousands of fans) for the 81 home games that year. The data are plotted in the Figure 1 scatter plot. Also given are the products of the player payroll values and mean attendance values for each of the sixteen teams. (These products, written in the column labelled " xy ," may aid in calculations.) Player payroll, x (in $1,000,000 s)Mean attendance, y (in thousands)xyArizona87.034.813028.47Atlanta94.539.883768.66Chicago Cubs65.334.442248.932Cincinnati52.631.851675.31Colorado64.840.742639.952Florida30.915.06465.354Houston58.337.782202.574Los Angeles105.037.163901.8Milwaukee41.519.38804.27Montreal39.511.48453.46New York Mets99.834.813474.038Philadelphia53.919.881071.532Pittsburgh36.321.60784.08San Diego64.129.881915.308San Francisco59.640.992443.004St Louis80.741.233327.261 Send data to Excel x20406080100120140y510152025303540450 Figure 1 Answer the following. Carry your intermediate computations to at least four decimal places, and round your answer as specified below. (If necessary, consult a list of formulas.) What is the value of the sample correlation coefficient for these data? Round your answer to at least three decimal places.

Answer 1