Question

team   league    price    wins    cost/win
Arizona Diamondbacks   NL   19.68   90   35.40
Atlanta Braves   NL   17.07   84   32.89
Chicago Cubs   NL   34.30   85   65.33
Cincinnati Reds   NL   17.90   72   40.32
Colorado Rockies   NL   14.72   90   26.67
Florida Marlins   NL   16.70   71   38.13
Houston Astros   NL   26.66   73   59.11
Los Angeles Dodgers   NL   20.09   82   34.64
Milwaukee Brewers   NL   18.11   83   35.37
N.Y. Mets   NL   25.28   88   46.56
Philadelphia Phillies     NL   26.73   89   48.69
Pittsburgh Pirates   NL   17.08   68   40.67
San Diego Padres   NL   20.83   89   38.15
San Francisco Giants   NL   24.53   71   56.00
St. Louis Cardinals   NL   29.78   78   61.91
Washington Nationals   NL   20.88   73   46.30

Compute the correlation between average 2007 price and cost per win for these 16 teams. (Assume the correlation conditions have been satisfied and round your answer to the nearest 0.001.)

Answer 1

X Values
∑ = 350.34
Mean = 21.896
∑(X - M_x)² = SS_x = 446.09

Y Values
∑ = 706.14
Mean = 44.134
∑(Y - M_y)² = SS_y = 1934.721

X and Y Combined
N = 16
∑(X - M_x)(Y - M_y) = 852.46

R Calculation
r = ∑((X - M_y)(Y - M_x)) / √((SS_x)(SS_y))

r = 852.46 / √((446.09)(1934.721)) = 0.918