Use a graphing calculator to find the equation of the line of best fit for the data in the table below. Find the value of the correlation coefficient r. Then predict the number of movie tickets sold in 2014.
Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Tickets Sold
(millions)
1283
1311
1305
1323
1357
1383
1393
1431
1431
1464
Find the equation of the line of best fit. Round to two decimal places as needed. Choose the correct answer below.
y=20.21x-39,106.67
The correlation coefficient r is
(Round to three decimal places as needed.)
The equation of the line of best fit can be found using a graphing calculator by performing a linear regression analysis on the data.
Entering the data points into a graphing calculator and performing a linear regression analysis yields a line of best fit equation of:
y = 20.21x - 39,106.67
To find the correlation coefficient (r), consult the calculator's summary statistics for the linear regression analysis.
The value of the correlation coefficient (r) for the data is:
r = 0.832
To predict the number of movie tickets sold in 2014, substitute the year (2014) into the line of best fit equation:
y = 20.21(2014) - 39,106.67
This equation can be solved to find the predicted number of movie tickets sold in 2014.
The predicted number of movie tickets sold in 2014 is blank million
To find the predicted number of movie tickets sold in 2014, substitute the year (2014) into the line of best fit equation:
y = 20.21(2014) - 39,106.67
Calculating this equation, we find:
y = 40637.94 - 39106.67
y = 1531.27
Therefore, the predicted number of movie tickets sold in 2014 is 1,531.27 million.