Videos
Predicting Winnings for NASCAR Drivers
Matt Kenseth won the 2012 Daytona 500, the most important race of the NASCAR season. His win was no surprise because for the 2011 season he finished fourth in the point standings with 2330 points, behind Tony Stewart (2403 points), Carl Edwards (2403 points), and Kevin Harvick (2345 points). In 2011 he earned $6,183,580 by winning three Poles (fastest driver in qualifying), winning three races, finishing in the top five 12 times, and finishingin the top ten 20 times. NASCAR's point system in 2011 allocated 43 points to the driver who finished first, 42 points to the driver who finished second, and so on down to 1 point for the driver who finished in the 43rd position. In addition, any driver who led a lap received 1 bonus point, the driver who led the most laps received an additional bonus point, and the race winner was awarded 3 bonus points. But the maximum number of points a driver could earn in any race was 48. Table 15.8 shows data for the 2011 season for the top 35 drivers (NASCAR website, February 28, 2011).
Managerial Report
2. Develop an estimated regression equation that can be used to predict Winnings ($) given the number of poles won (Poles), the number of wins (Wins), the number of top five finishes (Top 5), and the number of top ten (Top 10) finishes. Test for individual significance and discuss your findings and conclusions.
Trending nowThis is a popular solution!
Chapter 15 Solutions
Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
- The median annual income for someone who has an Associates Degree is $31,936. The median annual income for someone with a high school degree is $26,123. Based on the median income, how much more would someone with an associate's degree earn than someone with a high school degree over 40 years?arrow_forwardThe median annual income for workers aged 25 or older in the United States in 2014 was $48372 for an associate’s degree and $52655 for a bachelor’s degree. The annual income for adults with a bachelor’s degree is what percent greater than for adults with an associate’s degree?arrow_forward
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell