QUESTION 17 DATAfile: NFLTeamValueIn 2014, the 32 teams in the National Football League (NFL) were worth, on average, $1.17 billion, 5% more than in 2013. The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 NFL teams in 2014.†TeamRevenue($ millions)CurrentValue($ millions)ArizonaCardinals253961AtlantaFalcons252933BaltimoreRavens2921,227BuffaloBills256870CarolinaPanthers2711,057ChicagoBears2981,252CincinnatiBengals250924ClevelandBrowns2641,005DallasCowboys5392,300DenverBroncos2831,161DetroitLions248900Green BayPackers2821,183HoustonTexans3201,450IndianapolisColts2761,200JacksonvilleJaguars260840Kansas CityChiefs2451,009 TeamRevenue($ millions)CurrentValue($ millions)MiamiDolphins2681,074MinnesotaVikings2341,007New EnglandPatriots4081,800New OrleansSaints2761,004New YorkGiants3381,550New YorkJets3211,380OaklandRaiders229825PhiladelphiaEagles3061,314PittsburghSteelers2661,118San DiegoChargers250949San Francisco49ers2551,224SeattleSeahawks2701,081St. LouisRams239875Tampa BayBuccaneers2671,067TennesseeTitans2701,055WashingtonRedskins3811,700(a)Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis.A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the bottom left corner of the plot and moves upward towards the point (539 , 2400). The points are fairly scattered. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the point (229 , 825) and moves upward towards the point (539 , 2300). The points are plotted close together with very little scatter. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the point (229 , 2300) and moves down and to the right - initially steep and nearly vertical then curving to be nearly horizontal - to the point (539 , 825). The points are plotted close together with very little scatter. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.The points plotted from the horizontal axis values of 110 to 500 are evenly scattered between the vertical axis values of 1030 to 1960.Does it appear that there is any relationship between the two variables?There appears to be ---Select--- a positive a negative no linear relationship between two variables.(b)What is the sample correlation coefficient? (Round your answer to two decimal places.) What can you say about the strength of the relationship between Revenue and Value?The sample correlation coefficient indicates ---Select--- a very strong no a very weak linear relationship between the two variables.

Name: QUESTION 17 DATAfile: NFLTeamValueIn 2014, the 32 teams in the Nationa
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Description: QUESTION 17 DATAfile: NFLTeamValueIn 2014, the 32 teams in the National Football League (NFL) were worth, on average, $1.17 billion, 5% more than in 2013. The following data show the annual revenue ($ millions) and the estimated team value ($ million

Question

QUESTION 17 DATAfile: NFLTeamValueIn 2014, the 32 teams in the National Football League (NFL) were worth, on average, $1.17 billion, 5% more than in 2013. The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 NFL teams in 2014.†TeamRevenue($ millions)CurrentValue($ millions)ArizonaCardinals253961AtlantaFalcons252933BaltimoreRavens2921,227BuffaloBills256870CarolinaPanthers2711,057ChicagoBears2981,252CincinnatiBengals250924ClevelandBrowns2641,005DallasCowboys5392,300DenverBroncos2831,161DetroitLions248900Green BayPackers2821,183HoustonTexans3201,450IndianapolisColts2761,200JacksonvilleJaguars260840Kansas CityChiefs2451,009 TeamRevenue($ millions)CurrentValue($ millions)MiamiDolphins2681,074MinnesotaVikings2341,007New EnglandPatriots4081,800New OrleansSaints2761,004New YorkGiants3381,550New YorkJets3211,380OaklandRaiders229825PhiladelphiaEagles3061,314PittsburghSteelers2661,118San DiegoChargers250949San Francisco49ers2551,224SeattleSeahawks2701,081St. LouisRams239875Tampa BayBuccaneers2671,067TennesseeTitans2701,055WashingtonRedskins3811,700(a)Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis.A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the bottom left corner of the plot and moves upward towards the point (539 , 2400). The points are fairly scattered. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the point (229 , 825) and moves upward towards the point (539 , 2300). The points are plotted close together with very little scatter. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.Most of the points follow a trend that starts at the point (229 , 2300) and moves down and to the right - initially steep and nearly vertical then curving to be nearly horizontal - to the point (539 , 825). The points are plotted close together with very little scatter. A scatter plot with 32 points is given.The horizontal axis is labeled: Revenue ($ millions), and ranges from 0 to 600.The vertical axis is labeled: Current Value ($ millions), and ranges from 0 to 2500.The points plotted from the horizontal axis values of 110 to 500 are evenly scattered between the vertical axis values of 1030 to 1960.Does it appear that there is any relationship between the two variables?There appears to be  ---Select--- a positive a negative no linear relationship between two variables.(b)What is the sample correlation coefficient? (Round your answer to two decimal places.) What can you say about the strength of the relationship between Revenue and Value?The sample correlation coefficient indicates  ---Select--- a very strong no a very weak linear relationship between the two variables.

Accepted Answer

(a)
The scatter plot is obtained using EXCEL. The software procedure is given below:

Enter the…

Team	Revenue ($ millions)	Current Value ($ millions)
Arizona Cardinals	253	961
Atlanta Falcons	252	933
Baltimore Ravens	292	1,227
Buffalo Bills	256	870
Carolina Panthers	271	1,057
Chicago Bears	298	1,252
Cincinnati Bengals	250	924
Cleveland Browns	264	1,005
Dallas Cowboys	539	2,300
Denver Broncos	283	1,161
Detroit Lions	248	900
Green Bay Packers	282	1,183
Houston Texans	320	1,450
Indianapolis Colts	276	1,200
Jacksonville Jaguars	260	840
Kansas City Chiefs	245	1,009

Team	Revenue ($ millions)	Current Value ($ millions)
Miami Dolphins	268	1,074
Minnesota Vikings	234	1,007
New England Patriots	408	1,800
New Orleans Saints	276	1,004
New York Giants	338	1,550
New York Jets	321	1,380
Oakland Raiders	229	825
Philadelphia Eagles	306	1,314
Pittsburgh Steelers	266	1,118
San Diego Chargers	250	949
San Francisco 49ers	255	1,224
Seattle Seahawks	270	1,081
St. Louis Rams	239	875
Tampa Bay Buccaneers	267	1,067
Tennessee Titans	270	1,055
Washington Redskins	381	1,700