2004 2006 517 377 460 262 247 Corporation for Public Broadcasting Institute of M

Question

2004 2006 517 377 460 262 247 Corporation for Public Broadcasting Institute of Museum and Library Services National Gallery of Art Kennedy Center for the Performing Arts Download data Part 1 Compute the least-squares regression line for predicting the 2006 budget from the 2004 budget. Round the slope and y-intercept to four decimal places 906 Regression line equation: 104 69 Min. Part 2 out of 3 If two institutions have budgets that differ by 19 million dollars in 2004, by how much would you predict their budgets to differ in 2006? Round the answer to two decimal places In 2006, their budgets would differ by million dollars.

Explanation / Answer

Part:2

From part 1, we have the estimated regression line is

Y = -4.906 + 1.104X

If X = 19 million dollars the the estimated budjet to differ in 2006 is given by

Y2006 = -4.906 + 1.104(19) = -4.906 + 20.976 = 16.07 MILLION DOLLARS

In 2006, the budjet would differ by 16.07 million dollars

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