The data show the number of viewers for television stars with certain salaries. Find the regression equation, letting salary be the independent (x) variable. Find the best predicted numbe of viewers for a television star with a salary of $15 million. Is the result close to the actual number of viewers, 5.0 million? Use a significance level of 0.05. Salary (millions of $) Viewers (millions) 118 13 11 9 6 8 9 10.7 1.3 10.2 10.9 3.2 2.5 7.2 4.3 Click the icon to view the critical values of the Pearson correlation coefficient r. -... What is the regression equation? x (Round to three decimal places as needed.) What is the best predicted number of viewers for a television star with a salary of $15 million? The best predicted number of viewers for a television star with a salary of $15 million is million. (Round to one decimal place as needed.) Is the result close to the actual number of viewers, 5.0 million? O A. The result is exactly the same as the actual number of viewers of 5.0 million. O B. The result is not very close to the actual number of viewers of 5.0 million. O C. The result is very close to the actual number of viewers of 5.0 million. O D. The result does not make sense given the context of the data.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Question

10

### Regression Analysis of Television Stars' Salaries and Viewers

The table below presents the data showing the number of viewers for television stars with certain salaries. The task is to find the regression equation by letting salary be the independent (x) variable, and then determine the best-predicted number of viewers for a television star earning $15 million. We need to assess whether this prediction is close to the actual number of viewers, which is 5.0 million, using a significance level of 0.05.

#### Data Table

| Salary (millions of $) | 118 | 13 | 4  | 11 | 9  | 6  | 8  | 9  |
|------------------------|-----|----|----|----|----|----|----|----|
| Viewers (millions)     | 10.7| 1.3| 10.2|10.9| 3.2| 2.5| 7.2| 4.3|

#### Regression Analysis

- **Regression Equation:**
  - The form of the regression equation is:  
    \[
    \hat{y} = \text{(calculated intercept)} + \text{(calculated slope)} \times x 
    \] 
  - Round to three decimal places as needed.

- **Predicted Viewers:**
  - Calculate the best-predicted number of viewers for a television star with a salary of $15 million.
  - Round to one decimal place as needed.

#### Question

Is the predicted result close to the actual number of viewers, which is 5.0 million?

**Choose the best answer:**

- **A.** The result is exactly the same as the actual number of viewers of 5.0 million.
- **B.** The result is not very close to the actual number of viewers of 5.0 million.
- **C.** The result is very close to the actual number of viewers of 5.0 million.
- **D.** The result does not make sense given the context of the data.

This exercise requires calculation of the regression equation and comparison of predicted figures to real-world data to evaluate prediction accuracy.
Transcribed Image Text:### Regression Analysis of Television Stars' Salaries and Viewers The table below presents the data showing the number of viewers for television stars with certain salaries. The task is to find the regression equation by letting salary be the independent (x) variable, and then determine the best-predicted number of viewers for a television star earning $15 million. We need to assess whether this prediction is close to the actual number of viewers, which is 5.0 million, using a significance level of 0.05. #### Data Table | Salary (millions of $) | 118 | 13 | 4 | 11 | 9 | 6 | 8 | 9 | |------------------------|-----|----|----|----|----|----|----|----| | Viewers (millions) | 10.7| 1.3| 10.2|10.9| 3.2| 2.5| 7.2| 4.3| #### Regression Analysis - **Regression Equation:** - The form of the regression equation is: \[ \hat{y} = \text{(calculated intercept)} + \text{(calculated slope)} \times x \] - Round to three decimal places as needed. - **Predicted Viewers:** - Calculate the best-predicted number of viewers for a television star with a salary of $15 million. - Round to one decimal place as needed. #### Question Is the predicted result close to the actual number of viewers, which is 5.0 million? **Choose the best answer:** - **A.** The result is exactly the same as the actual number of viewers of 5.0 million. - **B.** The result is not very close to the actual number of viewers of 5.0 million. - **C.** The result is very close to the actual number of viewers of 5.0 million. - **D.** The result does not make sense given the context of the data. This exercise requires calculation of the regression equation and comparison of predicted figures to real-world data to evaluate prediction accuracy.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman