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Asked May 20, 2019
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Expert Answer

Step 1

Solution:

It is given that “Budget” as x variable and significance level of α=0.05.

The regression equation is y-cap=β0+ β1x, where, β0 is intercept and β1 is the slope of regression.

Computation of regression equation:

Step-by-step EXCEL procedure to find the regression equation is as follows.

  • Go to Data -> Data Analysis.
  • Select “Regression” from Analysis Tools and click Ok.
  • Select Y data in Input Y Range and select X data in Input X Range.
  • Click Ok.

The output is as follows.

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Step 2

Coefficients and Regression equation:

The coefficient of intercept is 21.7958 and the coefficient of x variable is 1.2434.

The regression equation is y-hat=21.8+1.2x.

Step 3

Calculation of predicted amount that a movie will gross its budget of $100 million:

The predicted amount that a movie will gross its budget of...

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