This assignment is to help you understand

This assignment is to help you understand the idea of regression analysis and other
inferential statistics. Twenty movies from 1999 and 2000 are listed in the attached
Excel sheet with data entered. You should have four values (variables) for each
movie. Two of the values are found through the Rotten Tomotoes website
(www.rottentomatoes.com). The 'Tomatometer' is the percentage of movie critics who
liked the movie and the 'Audience' value is what website users thought of the movie.
Finally, there are values for Worldwide Gross (amount the movie made) and the
Production Budget (how much the movie cost) for each movie. Now do the following: 1)
Plot four different regression graphs (X v Y): Tomatometer v Audience, Budget v
Gross, Budget v Tomatometer, Audience v Gross and find the best-fit line equation
and correlation coefficient (r-value) for each one. X represents the independent
variable and Y represents the dependent variable. 2) Use the r-value and Table I
(pg. 797 of your textbook) to determine if your best-fit lines are significant at
0.05 significant level. (use 18 degrees of freedom here) 3) Calculate and interpret
two 95% confidence intervals to estimate the true mean Budget value. The first will
assume normality and use a z-interval; the second will assume a t-interval. 4)
Finally do a write-up on your results including your regression graphs, your
confidence intervals and hypothesis test, and answers to the following questions
using your graphs: A) Using regression, does it appear that critics and audience
members agree on what a movie should be rated? Why or why not? B) Does it appear
that large budgets lead to high-grossing movies? That is, are larger budgets
associated with higher grossing movies? Why or why not? C) Does it appear that movie
critics like high-budget movies? In other words, is there a relationship between
higher ratings and higher budgets? Why or why not? D) Are higher ratings by audience
members associated with higher gross amounts earned by the movie? Why or why not?