Construct the correlation matrix of 5 variables: rank, revenue, players’ expenses, operating income, and Exp/Revenue ratio. Discuss the relationship between 5 variables based on the correlation matrix and rank them from high to low based on absolute value. What variable is the best indicator of team’s ranking?
1-In the National Basketball Association lockout of 2011, the owners of NBA teams wished to change the existing Collective Bargaining Agreement with the NBA Players Association. The owners wanted a “hard salary cap” restricting the size of team payrolls. This would allow “smaller market teams” having less revenue to be (1) financially profitable and (2) […]