Question
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 | 444 |
Organization 2 | 247 | 232 |
Organization 3 | 142 | 161 |
Organization 4 | 124 | 160 |
Organization 5 | 95 | 164 |
Organization 6 | 18 | 41 |
Organization 7 | 2 | 3 |
a) Compute the least-squares regression line for predicting last year's budget from the 2006 budget. Round the slope and y-interceptto four decimal places as needed.
The equation for the least-squares regression line is y^= . |
b) If two institutions have budgets that differ by 11 million dollars in 2006, by how much would you predict their budgets to differ last year? Round the answer to two decimal places as needed.
The budgets would differ by $_____ million. |
c) Predict last year's budget for an organization whose 2006 budget was 80 million. Round the answer to two decimal places as needed.
Last year's budget is predicted to be $_____ million. |
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