Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4) The data set below represents the budgets and box office sales for movies in the last year. Budget ($M) 425 200 306 215 225
4) The data set below represents the budgets and box office sales for movies in the last year. Budget ($M) 425 200 306 215 225 190 330.6 125 200 150 160 Box Office Sales ($M) 760.5 659.4 936.7 552.3 628.3 358.0 459.0 481.0 619.3 400.7 504.0 a) Create a scatter diagram for this data set and comment on whether there is a positive or negative relationship between these variables. b) Calculate the correlation coefficient between budget and box office sales. c) Using excel, calculate the least squares regression equation for this data set. d) Using your equation, predict the box office sales for a movie that has a budget of $255M. e) What is the R-squared for this equation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started