In: Statistics and Probability
Commercial Movie Releases The yearly data have been published showing the number of releases for each of the commercial movie studios and the gross receipts for those studios thus far. The regression line equation is
=y′+162.128.951x
. The correlation coefficient is
=r0.951
. Compute the standard error of the estimate rounded to at least two decimal places, if appropriate. Assume
=α0.01
.
No. of releases,
x |
21 |
270 |
12 |
10 |
361 |
35 |
22 |
8 |
---|---|---|---|---|---|---|---|---|
Gross receipts,
y (million$ ) |
125 |
1962 |
154 |
241 |
3844 |
334 |
1064 |
188 |
Answer:-
Given That:-
The yearly data have been published showing the number of releases for each of the commercial movie studios and the gross receipts for those studios thus far. The regression line equation is =y′+162.128.951x. The correlation coefficient is =r0.951. Compute the standard error of the estimate rounded to at least two decimal places, if appropriate. Assume =α0.01.
Given,
From the data,
Total sum of squares,
SST = 12177230
Residual sum of squares,
SSE = 1164131
Degree of freedom, df = n - 2
= 8 - 2
= 6
Mean Residual sum of squares, MSE = SSE/df
= 1164131/6
= 194021.8
Standard error of the estimate =
=
= 440.4791
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