Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HELPPPPPP Can movie rental revenue be predicted? A movie studio wishes to determine the relationship between the revenue from rental of comedies on streaming services

HELPPPPPP

image text in transcribed
Can movie rental revenue be predicted? A movie studio wishes to determine the relationship between the revenue from rental of comedies on streaming services and the revenue generated from the theatrical release of such movies. The studio has the following bivariate data from a sample of fifteen comedies released over the past five years. These data give the revenue x from theatrical release (in millions of dollars) and the revenuey from streaming service rentals (in millions of dollars) for each of the fifteen movies. Also shown are the scatter plot and the least-squares regression line for the data. The equation for this line is 1 = 3.41 +0.14x. Theater revenue, x Rental revenue, y [in millions of dollars) (in millions of dollars) 22.0 5.3 14.8 2.7 12.6 10.1 663 9.1 61.7 94 31.1 5.2 43.7 6.2 (In millions of dollars) Rental revenue PPPREF 49 1 14.7 27.2 12.0 25.2 6.6 7.5 1.5 25.9 8.9 27.9 2.1 Theater revenue (in millions of dollars) 60 4 15.9 35.6 12.2 Send data to calculator Send data to Excel Based on the studio's data and the regression line, answer the following. (a) From the regression equation, what is the predicted rental revenue (In millions of dollars) when the theater revenue X ? is 45.7 million dollars? Round your answer to one or more decimal places. 0 (b) From the regression equation, what is the predicted rental revenue (In millions of dollars) when the theater revenue is 27.9 million dollars? Round your answer to one or more decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics For Business And Economics

Authors: Terry Sincich James Mcclave, P. George Benson

13th Global Edition

1292227087, 9781292227085

Students also viewed these Mathematics questions