Show: Movie Profits

Question

Draw the line of best fit in the scatter plot. What is the equation of the line of best fit? You are going to use this equation to predict the gross lifetime profits of four movies that opened this weekend. Go online and find four movies that opened this weekend and their gross profits for the weekend. Input this amount to determine what their estimated lifetime gross profits will be.

Tell which four movies you picked, their gross profit for the weekend, and the predicted lifetime gross profit. Make sure to show all your work and include your sources.

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Answer 1

Step 1: Choose the best line fitting the data, and then work out the equation of that line (approximate, if the equation or data are not given)!

Once we have that "prediction equation," we can proceed:

Y-predict = B + Ax, or Y-predict = Mx + B if you prefer. Use weekend gross profits as "x" and record "y" values.