Question

In: Statistics and Probability

Listed below are the budgets​ (in millions of​ dollars) and the gross receipts​ (in millions of​...

Listed below are the budgets​ (in millions of​ dollars) and the gross receipts​ (in millions of​ dollars) for randomly selected movies. Answer parts

​a-c.

Budget (x)   Gross (y)
63   60
93   66
45   51
31   57
203   624
105   143
90   46

a. Find the value of the linear correlation coefficient

b. Find the critical values of r from the table showing the critical values for the Pearson correlation coefficient using

α=0.05.

c. Is there sufficient evidence to conclude that there is a linear correlation between the two​ variables?

A. ​No, because the absolute value of the correlation coefficient is greater than the critical value.

B. Yes, because the absolute value of the correlation coefficient is greater than the critical value.

C. Yes, because the absolute value of the correlation coefficient is less than the critical value.

D. ​No, because the absolute value of the correlation coefficient is less than the critical value.

Solutions

Expert Solution

Solution:

a) correlation coefficient r=0.911

b) critical value r_c = 0.754

c) Conclusion:

B. Yes, because the absolute value of the correlation coefficient is greater than the critical value.

orchestra answered 2 years ago
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