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 $110 million. Budget ($)in Millions 41 21 114 68 79 51 118 65 9 61 122 21 15 151 11 Gross ($) in Millions 119 11 107 56 128 116 101 107 55 105 222 39 22 283 45 The regression equation is y= + x. The best predicted gross for a movie with a $110 million budget is$ 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 ($)in Millions
|
41
|
21
|
114
|
68
|
79
|
51
|
118
|
65
|
9
|
61
|
122
|
21
|
15
|
151
|
11
|
|
|
Gross ($)
in Millions
|
119
|
11
|
107
|
56
|
128
|
116
|
101
|
107
|
55
|
105
|
222
|
39
|
22
|
283
|
45
|
|
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