Listed below are the budgetsn millions of dollars) and the gross receipts (in mi

Question

Listed below are the budgetsn millions of dollars) and the gross receipts (in millions of doillars) for randomly seleced movies Constnuct a scaterplot, find the vakue of the linear comelation ceficent t, and nd the Pake using a 006 is thre suficient evidence to conclude that there is a inear comelation between budgets and gross receipts? Do the resuts change if the actual budgots listed ane $61,000,000, $2,000,000, 356000.000, and so on comeliaton osficient r is The hear correlaten coofkantrisL (Round to three decimal places as needed.) (Round to two decinal places as needed) The P value is (Round to three decimal places as needed) O A. Yes, the resuits would need to be mulipled by 1,000.000 B. No, the results do not change because it would resuit in a dferent linear correlation cocent C. No, the results do not change becavse it would result i e same linear correlation coeflcient O D. Yes, the resuts would change because it would esut in a dfferent linear comelation coecient Click to select your answer

Explanation / Answer

The statistical software output for this problem is:

Simple linear regression results:
Dependent Variable: Gross, y
Independent Variable: Budget, x
Gross, y = -165.51825 + 3.4478558 Budget, x
Sample size: 7
R (correlation coefficient) = 0.93126911
R-sq = 0.86726216
Estimate of error standard deviation: 82.450752

Parameter estimates:

Analysis of variance table for regression model:

Hence,

Linear correlation coefficient = 0.931

Test statistic = 5.72

P - value = 0.002

Less; is

Option C is correct.

Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept -165.51825 63.348252 ? 0 5 -2.6128305 0.0475 Slope 3.4478558 0.60323462 ? 0 5 5.7156133 0.0023

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