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In: Statistics and Probability

To study how social media may influence the products consumers​ buy, researchers collected the opening weekend...

To study how social media may influence the products consumers​ buy, researchers collected the opening weekend box office revenue​ (in millions of​ dollars) for 23 recent movies and the social media message rate​ (average number of messages referring to the movie per​ hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue​ (y) and message rate​ (x).

Message Rate

Revenue​ ($millions)

1363.2

146

1219.2

79

681.2

67

583.6

37

454.7

35

413.9

34

306.2

21

289.8

18

245.1

18

163.9

17

148.9

16

147.4

15

147.3

15

123.6

14

118.1

13

108.9

13

100.1

12

90.3

11

89.1

6

70.1

6

56.2

5

41.6

3

8.4

1

The least squares regression equation is ModifyingAbove y with caret=________+ ( _______ )x. ​(Round to three decimal places as​ needed.)

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Expert Solution

Message Rate (X) Revenue​ ($millions) (Y) X * Y X^2
1363.2 146 199027.2 1858314.24
1219.2 79 96316.8 1486448.64
681.2 67 45640.4 464033.44
583.6 37 21593.2 340588.96
454.7 35 15914.5 206752.09
413.9 34 14072.6 171313.21
306.2 21 6430.2 93758.44
289.8 18 5216.4 83984.04
245.1 18 4411.8 60074.01
163.9 17 2786.3 26863.21
148.9 16 2382.4 22171.21
147.4 15 2211 21726.76
147.3 15 2209.5 21697.29
123.6 14 1730.4 15276.96
118.1 13 1535.3 13947.61
108.9 13 1415.7 11859.21
100.1 12 1201.2 10020.01
90.3 11 993.3 8154.09
89.1 6 534.6 7938.81
70.1 6 420.6 4914.01
56.2 5 281 3158.44
41.6 3 124.8 1730.56
8.4 1 8.4 70.56
Total 6970.8 602 426457.6 4934795.8

Equation of regression line is


b = 0.0865



a = -0.0309
Equation of regression line becomes

Equation of regression line becomes

orchestra answered 2 years ago
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