A movie studio wishes to determine the relationship between the revenue from rental of DVDs and videotapes of comedies 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 DVD and videotape rentals (in millions of dollars) for each of the fifteen movies. The data are displayed in the Figure 1 scatter plot. Theater revenue, x(in millions of dollars)Rental revenue, y(in millions of dollars)7.02.945.27.259.616.614.82.727.113.012.910.136.612.025.97.221.15.628.12.962.29.725.58.448.115.330.95.666.09.9Send data to calculatorSend data to ExcelRental revenue(in millions of dollars)y24681012141618x102030405060700 Theater revenue(in millions of dollars) Figure 1 The value of the sample correlation coefficient r for these data is approximately 0.591. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. (If necessary, consult a list of formulas.)a. What is the value of the slope of the least-squares regression line for these data? Round your answer to at least two decimal places.b. What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places.

Solution To find the slope and intercept we will use some functions.

Answered: A movie studio wishes to determine the…

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.3: Modeling Data With Power Functions

Problem 6E: Urban Travel Times Population of cities and driving times are related, as shown in the accompanying...

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Question

A movie studio wishes to determine the relationship between the revenue from rental of DVDs and videotapes of comedies 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

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

from DVD and videotape rentals (in millions of dollars) for each of the fifteen movies. The data are displayed in the Figure 1 scatter plot.

Theater revenue, x (in millions of dollars)	Rental revenue, y (in millions of dollars)
7.0	2.9
45.2	7.2
59.6	16.6
14.8	2.7
27.1	13.0
12.9	10.1
36.6	12.0
25.9	7.2
21.1	5.6
28.1	2.9
62.2	9.7
25.5	8.4
48.1	15.3
30.9	5.6
66.0	9.9

Send data to calculator

Send data to Excel

Rental revenue
(in millions of dollars)

Theater revenue
(in millions of dollars)

Figure 1

The value of the sample correlation coefficient r for these data is approximately 0.591. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. (If necessary, consult a list of formulas.)

a. What is the value of the slope of the least-squares regression line for these data? Round your answer to at least two decimal places.

b. What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places.

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