he data is the 50 highest grossing films (as of 2021). Box office totals are measured in billions of dollars. Create a scatterplot with the explanatory variable being the Year and response the Revenue (in billions). Make sure to make a copy of the scatterplot in the word document. Find the equation of the least square’s regression line. Interpret the correlation coefficient, and coefficient of determination (one sentence each).
he data is the 50 highest grossing films (as of 2021). Box office totals are measured in billions of dollars. Create a scatterplot with the explanatory variable being the Year and response the Revenue (in billions). Make sure to make a copy of the scatterplot in the word document. Find the equation of the least square’s regression line. Interpret the correlation coefficient, and coefficient of determination (one sentence each).
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
The data is the 50 highest grossing films (as of 2021). Box office totals are measured in billions of dollars.
- Create a
scatterplot with the explanatory variable being the Year and response the Revenue (in billions). Make sure to make a copy of the scatterplot in the word document. - Find the equation of the least square’s regression line.
- Interpret the
correlation coefficient , and coefficient of determination (one sentence each). - Is year a good predictor of box office revenue? Give a 1-2 sentence reason why you think so (or not).
Expert Solution
Step 1
Given Information:
The data represents 50 highest grossing films and the Box office totals are measured in billions of dollars.
The independent variable (X) is the 'Year' and the response variable (Y) is 'Revenue'.
1) To create a scatterplot for the data.
A scatterplot is a graphical representation that indicates the relationship between two variables.
Construct scatterplot using Excel. Steps to follow are given below:
- Highlight the required data i.e., column 'Year' and 'Revenue'.
- Go to Insert, under different chart options, select Scatterplot.
Excel output is given below:
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