Data was collected for several movies. For example, the movie \"Aliens\" had a b

Question

Data was collected for several movies. For example, the movie "Aliens" had a budget of 18.5 million dollars and earned a gross of 81.843 million dollars. The relationship between the budget (in millions) and the gross (in millions) for the movies was analyzed. Below are the results of the correlation and regression analysis in Statdisk. Review the Statdisk output and answer the following questions a. What is the value of the correlation, r? b. What is the proportion of explained variance? (careful!) c. If alpha is set at .05, is there evidence that the variables are correlated in the population? d. What is the regression equation? e. Use the regression equation to predict the gross for a movie if the budget is 8 million dollars. ( Hint: Enter 8 into the regression equation, Not 8,000,000.) Sample size, n: 36 Degrees of freedom: 34

Explanation / Answer

Ans:

1)r=0.399

2)Explained variation=74600.14/468293.8=0.1593

(check R^2=0.39913^2=0.1593)

3)

test statistic:

t=0.399*sqrt(34/(1-0.399^2))=2.54

p-value=0.0159

As,p-value<0.05,reject null hypothesis.

Yes,there is linear correlation between variables.

4)y'=1.033x+82.573

5)y'=1.033*8+82.573=90.837

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