Question

calculate and interpret the residual for the cubs. the residual = 17.002. the chicago cubs spent $17.002 million more than the payroll predicted by the regression line with x = $182 million. the residual = -17.002. the chicago cubs won 17.002 more games than the number of games predicted by the regression line with x = $182 million. the residual = -17.002. the chicago cubs won 17.002 fewer games than the number of games predicted by the regression line with x = $182 million. the residual = 17.002. the chicago cubs won 17.002 more games than the number of games predicted by the regression line with x = $182 million. the residual = 85.998. the chicago cubs won 85.998 more games than the number of games predicted by the regression line with x = $182 million.

Explanation:

The residual in regression analysis is the difference between the observed value and the predicted value. In a scatter - plot of payroll (x - variable) vs number of wins (y - variable), a positive residual means the observed number of wins is greater than the predicted number of wins by the regression line for a given payroll value, and a negative residual means the observed number of wins is less than the predicted number. Here, the residual value is being related to the number of wins of the Chicago Cubs compared to the predicted number of wins by the regression line for a payroll of $182 million.

Answer:

The residual = - 17.002. The Chicago Cubs won 17.002 fewer games than the number of games predicted by the regression line with x = $182 million.