Can movie rental revenue be predicted? A movie studio wishes to determine the relationship between the revenue from rental of comedies on streaming services and the revenue generated from the theatrical release of such movies. The studio has the following bivariate data from a sample of fifteen comedies released over the past five years. These data give the revenue x  from theatrical release (in millions of dollars) and the revenue  y  from streaming service rentals (in millions of dollars) for each of the fifteen movies. Also shown are the scatter plot and the least-squares regression line for the data. The equation for this line is  =y+3.620.15x .   Theater revenue, x (in millions of dollars) Rental revenue, y (in millions of dollars) 60.9 9.5 19.9 5.0 25.4 7.0 25.8 9.1 14.4 1.6 30.7 5.3 49.0 16.5 27.6 11.6 27.4 3.0 12.9 10.6 59.7 16.2 7.1 3.6 36.5 12.3 66.2 9.9 44.5 7.3 Send data to calculator Send data to Excel        Rental revenue (in millions of dollars) y 2 4 6 8 10 12 14 16 18 x 10 20 30 40 50 60 70 0                                                                   Theater revenue (in millions of dollars) Based on the studio's data and the regression line, answer the following.   (a) From the regression equation, what is the predicted rental revenue (in millions of dollars) when the theater revenue is 45.6 million dollars? Round your answer to one or more decimal places.       (b) From the regression equation, what is the predicted rental revenue (in millions of dollars) when the theater revenue is 66.2 million dollars? Round your answer to one or more decimal places.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Can movie rental revenue be predicted?

A movie studio wishes to determine the relationship between the revenue from rental of comedies on streaming services and the revenue generated from the theatrical release of such movies. The studio has the following bivariate data from a sample of fifteen comedies released over the past five years. These data give the revenue

x

 from theatrical release (in millions of dollars) and the revenue 

y

 from streaming service rentals (in millions of dollars) for each of the fifteen movies. Also shown are the scatter plot and the least-squares regression line for the data. The equation for this line is 

=y+3.620.15x

.

 

Theater revenue, x
(in millions of dollars)
Rental revenue, y
(in millions of dollars)
60.9
9.5
19.9
5.0
25.4
7.0
25.8
9.1
14.4
1.6
30.7
5.3
49.0
16.5
27.6
11.6
27.4
3.0
12.9
10.6
59.7
16.2
7.1
3.6
36.5
12.3
66.2
9.9
44.5
7.3
Send data to calculator
Send data to Excel
      
Rental revenue
(in millions of dollars)
y
2
4
6
8
10
12
14
16
18
x
10
20
30
40
50
60
70
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Theater revenue
(in millions of dollars)

Based on the studio's data and the regression line, answer the following.

 

(a)

From the regression equation, what is the predicted rental revenue (in millions of dollars) when the theater revenue is

45.6
million dollars? Round your answer to one or more decimal places.

 

 
 
(b)

From the regression equation, what is the predicted rental revenue (in millions of dollars) when the theater revenue is

66.2
million dollars? Round your answer to one or more decimal places.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman