Answered: From the regression equation, what is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Can movie rental revenue be predicted? A movie studio wishes to determine the relationship between the revenue from rental of comedies on streaming services and the revenue generated from the theatrical release of such movies. The studio has the following bivariate data from a sample of fifteen comedies released over the past five years. These data give the revenue x from theatrical release (in millions of dollars) and the revenue y from streaming service rentals (in millions of dollars) for each of the fifteen movies. Also shown are the scatter plot and the least-squares regression line for the data. The equation for this line is y=3.60+0.15x

Based on the studio's data and the regression line, answer the following.

(a) From the regression equation, what is the predicted rental revenue (in millions of dollars) when the theater revenue is 12.8 million dollars? Round your answer to one or more decimal places.

(b) What was the observed rental revenue (in millions of dollars) when the theater revenue was 12.8 million dollars