Question
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best predicted amount that a movie will gross if its budget is
$140 million. Use a significance level of =0.05.
Budget($)inMillions | 41 | 22 | 117 | 70 | 72 | 53 | 119 | 66 | 4 | 57 | 126 | 18 | 11 | 146 | 6 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross($) inMillions | 126 | 6 | 107 | 70 | 113 | 106 | 109 | 106 | 55 | 101 | 212 | 25 | 12 | 282 | 43 |
the critical values of the Pearson correlation coefficient r.
n | =0.05 | =0.01 | NOTE: To test H0: =0 against H1: 0, reject H0 if the absolute value of r is greater than the critical value in the table. |
---|---|---|---|
4 | 0.950 | 0.990 | |
5 | 0.878 | 0.959 | |
6 | 0.811 | 0.917 | |
7 | 0.754 | 0.875 | |
8 | 0.707 | 0.834 | |
9 | 0.666 | 0.798 | |
10 | 0.632 | 0.765 | |
11 | 0.602 | 0.735 | |
12 | 0.576 | 0.708 | |
13 | 0.553 | 0.684 | |
14 | 0.532 | 0.661 | |
15 | 0.514 | 0.641 | |
16 | 0.497 | 0.623 | |
17 | 0.482 | 0.606 | |
18 | 0.468 | 0.590 | |
19 | 0.456 | 0.575 | |
20 | 0.444 | 0.561 | |
25 | 0.396 | 0.505 | |
30 | 0.361 | 0.463 | |
35 | 0.335 | 0.430 | |
40 | 0.312 | 0.402 | |
45 | 0.294 | 0.378 | |
50 | 0.279 | 0.361 | |
60 | 0.254 | 0.330 | |
70 | 0.236 | 0.305 | |
80 | 0.220 | 0.286 | |
90 | 0.207 | 0.269 | |
100 | 0.196 | 0.256 | |
n | =0.05 | =0.01 |
QUESTIONS:
1. The regression equation is y=________+ __________x. (Round to one decimal place as needed.)
2. The best predicted gross for a movie with a $140 million budget is $ __________ million. (Round to one decimal place as need
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