Movie budgets How does the cost of a movie depend on its length Data on the cost
Chapter 26, Problem 13(choose chapter or problem)
Movie budgets How does the cost of a movie depend on its length? Data on the cost (millions of dollars) and the running time (minutes) for major release films of 2005 are summarized in these plots and computer output: Dependent variable is: Budget($M) R squared = 15.4% s = 32.95 with 120 - 2 = 118 degrees of freedom Variable Coefficient SE(Coeff) t-ratio P-value Intercept -31.3869 17.12 -1.83 0.0693 Run Time 0.714400 0.1541 4.64 0.0001 a) Explain in context what the regression says. b) The intercept is negative. Discuss its value, taking note of the P-value. c) The output reports s = 32.95. Explain what that means in this context. d) Whats the value of the standard error of the slope of the regression line? e) Explain what that means in this context.
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