Listed below are paired data consisting of movie budget amounts and the amounts
ID: 3360420 • Letter: L
Question
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best predicted amount that a movie will gross if its budget is
$120120
million. Use a significance level of
=0.05.
Budget left parenthesis $ right parenthesisBudget ($)in Millionsin Millions
39
22
120
71
78
52
122
61
5
62
125125
2323
88
155155
88
Gross left parenthesis $ right parenthesisGross ($)
in Millionsin Millions
109
8
106
63
122
113
102
103
59
102
220
2626
2222
289289
4343
LOADING...
Click the icon to view the critical values of the Pearson correlation coefficient r.
The regression equation is
ModifyingAbove y with caretyequals=nothingplus+nothingx.
(Round to one decimal place as needed.)
The best predicted gross for a movie with a
$120
million budget is
$nothing
million.
(Round to one decimal place as needed.)
Budget left parenthesis $ right parenthesisBudget ($)in Millionsin Millions
39
22
120
71
78
52
122
61
5
62
125125
2323
88
155155
88
Gross left parenthesis $ right parenthesisGross ($)
in Millionsin Millions
109
8
106
63
122
113
102
103
59
102
220
2626
2222
289289
4343
Explanation / Answer
Letting the budget be the predictor (x) variable andthe amount movie grossed as dependent variable. We have regression output of the below data as:
Data
Regression Output:
Letting the budget be the predictor (x) variable and the amount movie grossed as dependent variable, we have statistically significant model:
Amount movie grossed (Y)= 9636.66539+ 0.50266791xBudget amount on movie (X)
P-values for both intercept and Budget amount on movie (X) is statistically significant. Also Budget amount on movie (X) variable explains 57.57% (R-Square) variation in Amount movie grossed (Y) variable.
Best predicted amount that a movie will gross if its budget is
$120120 is 9636.66539+ 0.50266791x120120=$70017.13479
Pearson's Correlation between
Now Letting the budget be the dependent (x) variable and the amount movie grossed as independent variable. We have regression output of the below data as:
Here we have used the model without intercept, the model output is
Budget amount on movie (X)= 0+1.13045804739434xAmount movie grossed (Y)
The best predicted gross for a movie with a $120 is 1.13045804739434x120=$135.655
Budget amount on movie (X) Amount movie grossed (Y) 109 39 8 22 106 120 63 71 122 78 113 52 102 122 103 61 59 5 102 62 220 125125 2626 2323 2222 88 289289 155155Related Questions
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