National Hockey league
Introduction
In employment, people’s values to a company are defined by their salary. That is similar to hockey players in the National Hockey league. Like other firms, the NHL team’s management to give their limited resources efficiently to build the best team. This in turn helps to build a strong team based on the amount of money they spend when buying players. I focus on. Centers are the most important on the hockey team. Widely considered the core of the team, the better the group of centers the better results you can expect. In 2017 – 2018 Stanley Cup Champion capitals, the Washington capitals have been a dominant team in the last ten years. Their ice success has brought the franchise valuation to increase from $100 million to 625 million after one season. (“The Business of Hockey”, 2018).
Using a combination of players’ yearly performance and salary data sets for the 2017 – 2018 NHL season provided by CKM sports Management, I utilize a multilinear regression as a prediction model consisting of a set of 17 different variables each representing different performance metrics, I deem important for a center. The results of the model will assign a predicted salary unit to a center based on their efficiency during the 2017-2018 season, which can be compared to their actual salary to identify the most underpaid and overpaid centers.
The initial steps will look at the NHL and the salary cap, together with a literature review related to the topic of NHL player valuation. The second section outline data I used and the process I took to transform the data into a useful resource,. The third section breaks down the empirical methodology I utilized to build the predictive model and come up with some theoretical justification. The fourth step is to display the regression pipeline and interpretation as of results from the model. the fifth discusses the robustness of the model. the final section discusses the findings of the paper and its implications. However, the NHL is not only a sports league, it is a multibillion-dollar entertainment industry.
Background
The national hockey league is a hockey team consisting of NHL players. iTis the largest team of players in terms of popularity and revenue of 31 teams from both the USA and Canada.