Data on the cost (millions of dollars) and the running time (minutes) for films
ID: 2922450 • Letter: D
Question
Data on the cost (millions of dollars) and the running time (minutes) for films of a particular season are summarized in the computer output shown to the right and the plots below.
1) Find a 95% confidence interval for the slope and interpret it.
I am ____% confident that the cost of making longer movies _______ (decreases, increases) at a rate between _____ and _____ million dollars per minute.
Dependent variable is: Budget($M)
R^2=31.8%
s=21.64 with 202=18 degrees of freedom
Variable
Coefficient
SE(Coeff)
t-ratio
P-value
Intercept
- 31.2759
29.33
-1.07
0.3004
Run Time
0.694337
0.2395
2.90
.0096
Data on the cost (millions of dollars) and the running time (minutes) for films of a particular season are summarized in the computer output shown to the right and the plots below.
1) Find a 95% confidence interval for the slope and interpret it.
I am ____% confident that the cost of making longer movies _______ (decreases, increases) at a rate between _____ and _____ million dollars per minute.
Dependent variable is: Budget($M)
R^2=31.8%
s=21.64 with 202=18 degrees of freedom
Variable
Coefficient
SE(Coeff)
t-ratio
P-value
Intercept
- 31.2759
29.33
-1.07
0.3004
Run Time
0.694337
0.2395
2.90
.0096
Explanation / Answer
for estimated slope b1 =0.694337
for 95% CI and 18 df; critical value t=2.1009
therefore 95% CI =b1 -/+t*std error =0.1911 ; 1.1975
I am 95_% confident that the cost of making longer movies increases_ at a rate between _0.1911____ and ___1.1975__ million dollars per minute.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.