Hey guys, I posted this in Baseball Leftovers too, but I figured I'd drop it in here too.
I'm doing my senior comprehensive project on team dominance in the MLB Free Agent Market, and I'm analyzing the WAR statistic to find out if teams actually use specific knowledge management tactics to gain an advantage. I just ran a regression, wanting to find out if a player's contract is a function of his WAR value. Basically, just looked at all the type A and B FAs of the last 4 years, how much each team spent in total during free agency, and the player WAR values. I need some help with an interpretation. This is what I got:
Multiple R = 0.899
R Square = .808
Adjusted R Square = .8015
Standard Error = 43.2
Observations = 30 (teams)
Intercept = -34.8325
Wins Above Replacement (Before being Signed) = 13.3791
I believe these are the variables that matter the most. I'm having a really tough time interpreting this. Any math/statistical whizzes out there that can help me out with this? Or at least anyone that has experience with regressions? Thanks!