In 2008, the total payroll for the New York Yankees was $209.1 million, while the total payroll for the Tampa Bay Rays was about $43.8 million, or about one-fifth that of the Yankees. Many people have suggested that some teams are able to buy winning seasons and championships by spending a lot of money on the most talented players available. The table below lists the payrolls (in millions of dollars) for all 14 Major League Baseball teams in the American League as well as the total number of victories for each in the 2008 season:
Develop a regression model to predict the total number of victories based on the payroll of a team. Based on the results of the computer output, discuss how accurate this model is. Use the model to predict the number of victories for a team with a payroll of $79 million.