Part 2 report - Speech or Presentation Example

Honor ment I can confirm that all the work done in this paper is original and not copied or plagiarized from any source. Signature: Introduction In this project, data describing two seasons of a professional NFL team and their corresponding average team payroll, in millions of dollars, for that season is provided.it is important to note that each season starts from zero and also corresponds to a specific year where that season begun. The only exception was the sixth year when an athletic lockout took place, therefore leaving the team payroll variable blank.

Mathematically generated equations can be used to explain the trend of the team’s payroll during the entire season. In this paper, we are going to use statistical analysis and both linear and exponential equations to explain the trend throughout the season. Discussion The linear function of the equation is can be given by. The second equation describes the exponential growth of the payroll. It can be given by . Both the linear and exponential equations describe the relationship between the two variables in question.

If the general form of the equation for the variables is given by, then the equation for the exponential growth will be given by. When the value of x is 6 in 2004, the linear function. The exponential equation 40.546277. In the form of, the value of N becomes -335544.32 in both cases. The growth factor in this scenario becomes 1.0475 and the growth rate is therefore 4.75%.The graph below shows both the linear and exponential models for the average NHL team payroll. To help in getting a more insightful understanding of both the linear and exponential trend are the trend lines.

For the linear functionthe value of while for the exponential function the value of Figure 1: Graph of the linear models Figure 2: models with trend lines The next step in the analysis will require the application of both the linear and exponential models to predict the average NHL team payroll between the years 2012 and 2020. This data is shown in the table below. Comparing the values obtained using the two models; the NHL team should use the exponential model for economic planning as it offers lower values as compared to the linear model.

Starting Fall ofSeasonAverage NHL Team PayrollLinear modelExponential model20121458.357157.589859.124420131560.752759.57361.932420141663.21561.556264.873820151765.747763.539467.95620161868.3531565.522671.183720171971.185167.505874.864420182073.7973569.48978.105720192176.643771.472281.815220202279.577373.455485.6992Table 1: Average team payroll 2012-2020Conclusion From the analysis above, the both the linear and exponential models can be used to estimate the trend and the rate of growth of a certain dynamic product.

Using these mathematical concepts, it becomes easier to plan for the future as it has been shown by the prediction of the expected payroll between 2012 and 2020.