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 for the data is y′ =271.596+4.775x. The standard error of the estimate is S est =384.6455. Find the 95% prediction interval when x=195 new releases. Round your answers to two decimal places as needed. No. of releases x 8 10 306 22 270 35 21 12 Gross receipts y (million $) 188 241 1371 1064 1962 334 125 154 One can be 95% confident that the interval
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 for the data is y′ =271.596+4.775x. The standard error of the estimate is S est =384.6455. Find the 95% prediction interval when x=195 new releases. Round your answers to two decimal places as needed.
One can be 95% confident that the interval<y< contains the actual value of y.
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