What is the Relationship Between the Amount of Money a Team is Able to Spend and Their Position in the English Premier League?
Rationale
For my mathematical exploration I decided to base it around the topic of sports. While looking for a topic, sport stood out to me, as it has been a passion of mine ever since I was younger. I have also never thought about the significance of mathematics in sport other than in player statistics. This led me on the question how much does money play a role in a team’s winnings? Being an avid fan of Liverpool FC has always managed to frustrate me as they frequently come up short to the larger clubs who have more money. Also, representing my school via the football team, has always made me wonder if it’s fair when local schools choose to recruit and pay quality players in order to boost their chances at winning.
This further led me to question if there is a correlation between the amount of money a team is able to spend and their position/wins in the ‘English Premier League’. I first realized that there are numerous factors that contribute in how many games a team wins such as amount of fans, quality of manager etc.
Since I currently study higher-level business and management, and I also hope to study
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These could include how well the player plays according to their wage, the amount of fans, the manager quality, and much more, all of the numerous factors contribute to the anomalies of the results. For example, both the quadratic and cubic regression lines have a higher r^2value than the linear regression line. This may suggest that teams who spend the least are more motivated to do well thus creating the curve found in the regression line. However due to the findings, it is clear that money does play a significant part in the success of the team as confirmed by the r^2