Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best-predicted amount that a movie will gross if its budget is $105 million. Budget ($)in Millions 44 20 115 71 72 48 119 68 5 65 124 25 12 153 7 Gross ($) in Millions 111 10 101 58 129 115 93 91 61 100 206 34 9 298 49 The regression equation is y= + x. The best predicted gross for a movie with a $105 million budget is $ million.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
|
Budget ($)in Millions
|
44
|
20
|
115
|
71
|
72
|
48
|
119
|
68
|
5
|
65
|
124
|
25
|
12
|
153
|
7
|
|
|
Gross ($)
in Millions
|
111
|
10
|
101
|
58
|
129
|
115
|
93
|
91
|
61
|
100
|
206
|
34
|
9
|
298
|
49
|
|
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