Regression Analysis Setup for Player Salaries

A statistical technique used to estimate the relationship between a dependent variable (e.g., player salary) and one or more independent variables (e.g., on-base percentage, experience).

A variable whose value is determined by other variables in the model. It's the "outcome" or the variable you're trying to explain.

Variables that affect the dependent variable. These are used to predict the value of the dependent variable.

A variable that takes on only two values, typically 0 or 1. Used to represent categorical variables (e.g., position, gender).

A statistical measure used to assess the overall goodness-of-fit of a regression model. A higher R-squared value indicates a better fit.

A variable created by squaring an existing variable. Often used in regression models to capture non-linear relationships.

The subset of data from a larger dataset where players are classified as free agents.

A set of data created and used for statistical analysis. This usually contains multiple variables related to a specific topic (e.g., baseball player statistics).

A statistical method used to estimate the impact of playing in different positions on players' performance.

A key performance metric often used in baseball, indicating the overall effectiveness of a batter.

A measure of how well a regression model fits the data, ranging from 0 to 1, with values closer to 1 indicating a better fit.

A statistical table summarizing the results of multiple regressions, allowing for comparison of coefficient estimates across different years.

A variable in a regression model that represents the number of times a player has played in a game.

A metric used to measure the overall effectiveness of a hitter based on their batting average, on-base percentage, and slugging percentage.

A group of players who are not under contract with a specific team and are eligible to sign with any team.