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′=+93.181+7.28x. The correlation coefficient is =r=0.871 . Compute the standard error of the estimate rounded to at least two decimal places, if appropriate. Assume α=0.05. No. of releases, x 361 12 35 10 306 22 21 270 Gross receipts, y (million $) 3844 154 334 241 1371 1064 125 1962 The standard error of the estimate should be calculated. S est= No. of releases, x 361 12 35 10 306 22 21 270 Gross receipts, y (million $ ) 3844 154 334 241 1371 1064 125 1962
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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′=+93.181+7.28x. The
| No. of releases,
x
|
361
|
12
|
35
|
10
|
306
|
22
|
21
|
270
|
|---|---|---|---|---|---|---|---|---|
| Gross receipts, y (million $) |
3844
|
154
|
334
|
241
|
1371
|
1064
|
125
|
1962
|
|
S est=
|
||
| No. of releases,
x
|
361
|
12
|
35
|
10
|
306
|
22
|
21
|
270
|
|---|---|---|---|---|---|---|---|---|
| Gross receipts,
y
$
|
3844
|
154
|
334
|
241
|
1371
|
1064
|
125
|
1962
|
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