How many weeks can a movie run and still make a reasonable profit? The data that follow

Question:

How many weeks can a movie run and still make a reasonable profit? The data that follow show the number of weeks in release (x) and the gross to date (y) for the top 10 movies during a recent week.

Gross to Date (in millions) Weeks in Release Movie 1. The Prestige 2. The Departed 3. Flags of Our Fathers 4. Open Seaso


a. Plot the points in a scatterplot. Does it appear that the relationship between x and y is linear? How would you describe the direction and strength of the relationship?

b. Calculate the value of r2. What percentage of the overall variation is explained by using the linear model rather than yÌ… to predict the response variable y?

c. What is the regression equation? Do the data provide evidence to indicate that x and y are linearly related? Test using a 5% significance level.

d. Given the results of parts b and c, is it appropriate to use the regression line for estimation and prediction? Explain your answer.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction To Probability And Statistics

ISBN: 9780495389538

13th Edition

Authors: William Mendenhall, Robert J. Beaver, Barbara M. Beaver

Question Posted: