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. Use a significance level of alpha equals 0.05 . Budget left parenthesis $ right parenthesis in Millions 40 26 117 66 73 54 120 68 5 57 130 16 13 155 8 Gross left parenthesis $ right parenthesis in Millions 126 14 98 73 126 112 97 102 47 107 220 35 11 284 52 The regression equation is ŷ = __ + __x. (Round to one decimal place as needed.)
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.
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. Use a significance level of
alpha equals 0.05
.
|
Budget left parenthesis $ right parenthesis |
in Millions
40
26
117
66
73
54
120
68
5
57
130
16
13
155
8
|
|
|
Gross left parenthesis $ right parenthesis |
in Millions
126
14
98
73
126
112
97
102
47
107
220
35
11
284
52
The regression equation is ŷ = __ + __x.
(Round to one decimal place as needed.)
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