Listed below are paired data consisting of movie budget amou

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 $105105 million. Use a significance level of alpha equals 0.05=0.05.

Budget left parenthesis $ right parenthesisBudget ($)in Millionsin Millions 42, 27, 117, 66, 74, 55, 125, 62, 7, 57, 129, 20,12, 145, 7

Gross left parenthesis $ right parenthesisGross ($) in Millionsin Millions 120, 23, 111, 65, 123, 118, 96, 90, 63, 109,211, 34, 26, 295, 37.

The regression equation is y = _ +_ x

(Round to one decimal place as needed)

The best predicted gross for a movie with a

$105105

million budget is $_ million

Solution

Using technology, we get              
              
slope =    1.250769735          
intercept =    22.60150671          
              
Thus, the regression line is              
              
y^ =    22.60150671 + 1.250769735 x   [ANSWER]

*******************************
              
Thus, if x =    105          
              
Then              
              
y^ =    153.9323289 MILLION [ANSWER, BEST PREDICTED GROSS]