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 $135 million. Use a significance level of alpha equals 0.05 . Budget left parenthesis $ right parenthesis in Millions 45 24 115 74 72 48 117 67 4 60 124 24 6 152 8 Gross left parenthesis $ right parenthesis in Millions 115 10 95 69 127 112 93 101 50 102 223 26 18 282 56 The regression equation is ŷ = __ + __x. (Round to one decimal place as needed.)
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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
$135
million. Use a significance level of
alpha equals 0.05
.
|
Budget left parenthesis $ right parenthesis |
in Millions
45
24
115
74
72
48
117
67
4
60
124
24
6
152
8
|
|
|
Gross left parenthesis $ right parenthesis |
in Millions
115
10
95
69
127
112
93
101
50
102
223
26
18
282
56
The regression equation is ŷ = __ + __x.
(Round to one decimal place as needed.)
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