Financial Data Merging and Analysis

A variable in a dataset that uniquely identifies a specific record or observation, often created by combining other variables.

A process of combining data from two or more datasets based on a shared variable.

A process of ensuring that values in a dataset are consistently formatted and standardized, especially for names or labels.

A variable created by combining club name and season to create a unique identifier for each club in each year.

The process of converting a numerical value into a string representation.

Inconsistency in how information is represented across data sets, such as different names for the same club.

The value of a player in the transfer market, often referring to the estimated price a club would need to pay to acquire them.

The amount of salary paid to a player, often found in financial statements.

The process of combining data from different sources, in this case, the 'wagedat' and 'TMdat' data frames, to create a new data frame that holds both sets of data.

Values that represent the wages of a football player, typically expressed in pounds.

Ensuring that different data sets are measured using the same units or scale, making comparisons more meaningful. In this case, dividing wages by 1 million to make them comparable to TM values.

A visual representation that investigates the potential relationship between two variables, in this case, wages and TM values.

A statistical measure that indicates how closely two variables are related. A value of 1 indicates a perfect positive correlation, while 0 indicates no correlation.

A statistical technique that helps model the relationship between two variables using a line. It provides a mathematical formula to predict one variable based on the other.

A statistical measure that explains how much of the variation in one variable (TM values) can be explained by the variation in another variable (wages). A higher R-squared value indicates a stronger relationship.

A statistical test used to determine the significance of a regression coefficient. A high t-statistic suggests that the coefficient is significantly different from zero.

Analyzing data for each individual year separately, rather than combining data from all years, to ensure that any trends or relationships are not masked by changes over time.

A technique used to run multiple regressions on a single dataset, showing the results for each year in a separate column. This allows for easy comparison of results across different time periods.

A set of data that includes information about a certain event or observation, such as the financial performance of a soccer club or the statistics of a player.

A process of repeating an analysis or experiment multiple times to ensure the results are consistent and reliable. In this case, the analysis was performed separately for each year in the data.