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 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 α=0.05.

Budget left parenthesis $ right parenthesisBudget ($)in Millions	40	21	118	74	71	56	120	67	2	64	129	17	13	152	7
Gross left parenthesis $ right parenthesisGross ($) in Millions	113	20	94	60	120	116	91	98	56	109	210	43	9	297	39

The regression equation is y = _ +_ x (Round to one decimal place as​ needed)

The best predicted gross for a movie with a ​$140 million budget is $_ million

Answer 1

The statistical software output for this problem is :

The regression equation is y = 20.7 + 1.2 x

The best predicted gross for a movie with a ​$140 million budget is $ 192 million