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. Use a
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
$110
million. Use a significance level of
alpha equals 0.05
.
|
Budget left parenthesis $ right parenthesis |
in Millions
42
24
119
69
77
48
121
62
5
63
129
21
12
154
4
|
|
|
Gross left parenthesis $ right parenthesis |
in Millions
117
16
112
66
111
111
104
90
62
104
219
27
20
288
42
The regression equation is ŷ = __ + __x.
(Round to one decimal place as needed.)
The linear coefficient of
(Round to three decimal places as needed.)
The critical value of r = ____
The best predicted gross for a move with a $110 million budget is _____.
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