sung of movie buoget amounts and the corresponding amounts that the movies grossed. the regression equationn, lettuing the budget be t predictor (x) vanable best predIcted amoun a movie will gross if its budge Jse a significance level of alpha = 0.05. Budget ($) in Millions 38 116 71 67 9 60 120 154 Gross ($) in Millions 108 103 129 110 54 96 212 287 JA. The regression equation is y = 30.9 + 1.3x; Best predicted gross of $137.4 million JD. The regression equation is y= 1.3+ 30.9x; Best predicted gross of $3863.8 million C. The regression equation is y = 1.3+ 30.9x; Best predicted gross of $137.4 million O D. The regression equation is y = 30.9 + 1.3x; Best predicted gross of $193.4 million
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.
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