E[ln(SALARY)] = β₁ + β₂YEARS + β₃GAMESYR + β₄BAVG + β₅HRUNSYR + β₆RBISYR
SALARY annual salary
YEARS years in the league
GAMESYR average games played per year
BAVG career batting average
HRUNSYR home runs per year
RBISYR runs batted in per year
The model predicts that for each additional game per year salary increases by:
1.265 thousand dollars
1.645 thousand dollars
2.138 thousand dollars
Given the following values for the control variables,
the predicted salary is $ _____________.
The estimated variance of the error term is __________.
The corrected predicted salary in question 2 is $_______.
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