Note :I have the Answers however I need the details and the steps to get that an

Question

Note :I have the Answers however I need the details and the steps to get that answer and not using excel all manual

Movie Revenues 23. A financier whose specialty is investing in movie productions has observed that, in general, movies with "big-name" stars seem to generate more revenue than those movies whose stars are less well known. To examine his belief, he records the gross revenue and the payment (in $ millions) given to the two highest-paid performers in the movie for ten recently released movies 1 Movie Gross Revenue mil 48 65 Cost of Two Highest Paid Performers (Smil) 5.3 7.2 1.3 1.8 3.5 2.6 8.0 2.4 4.5 6.7 18 20 31 26 73 23 39 58 4 6 10 24. {Movie Revenues Narrative) Predict with 95% confidence the gross revenue of a movie whose top two stars earn $5.0 million ANS; 45.65 ± 4.916. Thus, LCL-40734 (in $1,000,000s), and UCL-50.566 (in $1,000,000s) 25, {Movie Revenues Narrative} Estimate with 95% confidence the average gross revenue of a movie whose top two stars earn $5.0 million ANS: 45.65 ± 1.54. Thus, LCL= 44.11 (in $1,000,000s), and UCL-47.19 (in $1,000,000s)

Explanation / Answer

Step 1: Find XY and X2 as it was done in the table below.

Step 2: Find the sum of every column:

X=43.3 , Y=401 , XY=2161.2 , X2=238.77

Step 3: Use the following equations to find a and b:

ab=YX2XXYnX2(X)2=401238.7743.32161.210238.7743.324.225=nXYXYnX2(X)2=102161.243.340110238.77(43.3)28.285

Step 4: Substitute a and b in regression equation formula

y y = a + bx= 4.225 + 8.285x

a) Standard deviation = 2.565762

Hence, the limits are 45.65 +- 1.96* 2.565762

b)

Standard deviation = 2.565762

Hence, the limits are 45.65 +- 1.96* 2.565762/ sqrt(10) = 45.65 +-1.54

X Y XY XX 5.3 48 254.4 28.09 7.2 65 468 51.84 1.3 18 23.4 1.69 1.8 20 36 3.24 3.5 31 108.5 12.25 2.6 26 67.6 6.76 8.0 73 584 64 2.4 23 55.2 5.76 4.5 39 175.5 20.25 6.7 58 388.6 44.89

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