Long answer: A simple model of the ball-bat interaction, like most posters talk about above, doesn’t take into account some of the really important secondary effects. When these are included, you can see that the influence of ball speed is noticeably smaller than that of bat speed, but it’s still there…and probably just enough of an influence to turn a deep centerfield out into an in-the-bleachers homer.
To walk through: The very simplest model of a ball-bat collision would be the collision of two particles. In this case conservation of momentum gives:
V[sub]bat_final[/sub] - V[sub]ball_final[/sub] = e(-V[sub]ball_orig[/sub] - V[sub]bat_orig[/sub])
and
m[sub]bat[/sub]V[sub]bat_final[/sub] + m[sub]ball[/sub]V[sub]ball_final[/sub] = m[sub]bat[/sub]V[sub]bat_orig[/sub] - m[sub]ball[/sub]V[sub]ball_orig[/sub]
where e is the coefficient of restitution (from 0 to 1), and the negative sign in front of V[sub]ball_orig[/sub] accounts for its opposite direction. Combining these two gives:
V[sub]ball_final[/sub] = (e+1)/(1+R)V[sub]bat_orig[/sub] + (e-R)/(1+R)V[sub]ball_orig[/sub]
where R = m[sub]ball[/sub]/m[sub]bat[/sub] (weight ratio). If you examine the coefficients on the two terms, you’ll see that the final ball speed is dependent on the original ball speed, but it’s more sensitive to bat speed [(e+1)>(e-R)].
Unfortunately, the above is not a very good approximation to real life, but I mention it to compare with the expression found in this paper from the American Journal of Physics (pdf). The author of that paper has a great site all about the physics of baseball that covers a number of other issues as well.
Anyway, if you peruse the paper (it’s pretty math-intensive, but the explanatory and discussionary text ain’t so bad), you’ll find that he derives an equation for final ball speed remarkably similar to the simplistic one above, where some of the additional secondary effects are tucked into the parameters in the equation:
V[sub]ball_final[/sub] = (e[sub]eff[/sub]+1)/(1+R[sub]0[/sub])V[sub]bat_orig[/sub] + (e[sub]eff[/sub]-R[sub]0[/sub])/(1+R[sub]0[/sub])V[sub]ball_orig[/sub]
where V[sub]bat_orig[/sub] is the bat speed at the impact point, e[sub]eff[/sub] is an effective coefficient of restitution which takes into account the combined effects of energy dissipation in the ball and vibrational losses in the bat. Also, R[sub]0[/sub] is a ratio of ball mass to “effective” bat mass, which takes into account the collision location distance from the bat center of mass. Note that all of these quantities vary along the length of the bat. In particular, e[sub]eff[/sub] varies from about 0.2 to 0.5 (Fig 12), which makes for a pretty inelastic condition, and R[sub]0[/sub] tends to be somewhat larger than the actual mass ratio (~0.18).
When all this is put together, then, you get something like (taking sort of average numbers):
V[sub]ball_final[/sub] = (0.4+1)/(1+0.2)V[sub]bat_orig[/sub] + (0.4-0.2)/(1+0.2)V[sub]ball_orig[/sub]
and it’s easy to see that, while the original ball speed affects the final speed, the bat speed is something like six or seven times more important. In fact, the actual final ball speed winds up heavily dependent on collision location (Fig 11), with a fairly narrow sweet spot. Within that sweet spot, e[sub]eff[/sub] peaks (at ~0.5), R[sub]0[/sub] is minimal, and final ball velocity is most sensitive to original ball velocity… probably adding enough velocity to turn a deep centerfield out into an in-the-bleachers homer.