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Government funding: The following table presents the budget (in millions of dollars) for selected organizations that received U.S. government funding for arts and culture in
Government funding: The following table presents the budget (in millions of dollars) for selected organizations that received U.S. government funding for arts and culture in both 2006 and last year. Organization 2006 Last Year Organization 1 460 441 Organization 2 247 228 Organization 3 142 161 Organization 4 124 168 Organization 5 95 173 Organization 6 18 43 Organization 7 2 3 a. Compute the least-squares regression line for predicting the 20m budget from the 2006 budget. b. If two institutions have budgets that differ by 10 million dollars in 2006, by how much would you predict their budgets to differ in 2016 c. Predict the 2016 budget for an organization whose 2006 budget was 100 million dollars
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