Question

In: Statistics and Probability

Listed below are paired data consisting of movie budget amounts and the amounts that the movies...

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

Solutions

Expert Solution

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


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