Regression Analysis
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Find:
(a) explained variation
(b) unexplained variation
(c) total variation
(d) coefficient of determination
(e) standard error of estimates s^e
Listed below are budgets in millions of dollars and the gross receipts in millions of dollars from randomly selected movies.
Budget 62 90 50 35 200 100 90
Gross 65 64 48 57 601 146 47
Refer to the above and assume that the necessary conditions of normality and variance are met.
(f) Find the predicted gross amount for a movie with a budget of 100 million.
(g) Find 95% prediction interval estimate of the gross amount for a movie with a budget of 100 million.
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Solution Summary
The solution gives the regression analysis for budgets and the gross receipts for selected movies. The answer contains:
a) explained variation
(b) unexplained variation
(c) total variation
(d) coefficient of determination
(e) standard error of estimates s^e
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