Answer :
Final Answer:
The regression equation is Attendance = 25000 + 0.0025(Total Team Salary), and the correlation between attendance and total team salary is positive.
Explanation:
In the first step, we have determined the regression equation, which is a statistical model to predict attendance based on total team salary. The equation is Attendance = 25000 + 0.0025(Total Team Salary).
This equation suggests that for every increase in total team salary by one unit, attendance is expected to increase by 0.0025 units. The positive coefficient (0.0025) indicates a positive linear relationship between these two variables, implying that as the total team salary increases, attendance tends to increase as well.
In the second step, we identify the correlation between attendance and total team salary as positive. This means that there is a direct relationship between the two variables – as total team salary goes up, attendance also tends to rise. This observation is confirmed by the positive coefficient in the regression equation, which quantifies the strength and direction of this relationship.
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