Test: Final Exam Time Remaining: 00 49:15 Submit Test This Question: 8 pts This

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Test: Final Exam Time Remaining: 00 49:15 Submit Test This Question: 8 pts This Test: 117 pts possible Data on the cost EQuestion Help below Use the (millions of dollars) and the running for release films of a recent year are summarized in the computer output and the plots found given results to complete parts a time (minutes) major i Click the icon to view the computer output. click the icon to view the plots. a) Explain in words and numbers wha First explain in numbers. What is the Computer output Now explain in words. What does the Dependent variable is: Budget ($M) R squared 47.4% s 15.05 with 20-2 18 degrees of freedom O A. The model suggests that the Variable Coefficient SE(Coeff t-ratio P-value O B. The model suggests that the 20.37 Intercept 1.32 0.2039 O C. The model suggests that film 0.67 0.17 4.03 0.0008 O D. The model suggests that film b) The intercept is negative. Discuss Print Done Click to select your answer(s) earch

Explanation / Answer

Solution:

a)

The regression model in numbers as:

Budget = -26.86 + 0.67 X Run Time

In words, the regression model says that the cost of film is 670,000 per minute run time of movie.

The answer is C. As , it depends on 670,000 times run time .

b) The intercept value is -26.86. The p-value is 0.2039. So, it is insignificant value. So, it cannot effect on the model. The intercept is insignificant. The budget is only depends on run time.

c) Option B is correct.

According to this model , an average cost of making a film varieswith margin of error of $15.05 million.

d)

The value of the standard error of the slope is 0.17.

e) The answer is B

The standard error of the regression slope, s represents the average distance between observed values deviate from the regression line.

The standard error of the slope is small , so we can signify that the model is good for prediction budget .

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