12.60 Below are revenue and profit (both in $ billions) for nine large entertainment companies.
Please show response in a step by step
Revenue and Profit of Nine Entertainment Companies
Company Revenue Profit
AMC Entertainment 1.792 -0.02
Clear Channel Communication 8.931 1.146
Liberty Media 2.446 -0.978
Metro-Goldwyn-Mayer 1.883 -0.162
Regal Entertainment Group 2.49 0.185
Time Warner 43.877 2.639
Univision Communications 1.311 0.155
Viacom 26.585 1.417
WaltDisney 27.061 1.267
(Data are from Fortune 149, no. 7 [April 5, 2005], p. F-50.)
(a) Make and display a scatter plot of profit (Y) as a function of revenue (X).
(b) What is the regression equation?
(c) What is R2.
(d) Interpret the slope of the regression line. In your discussion state the units of the slope.
(e) In your own words, describe the fit of the regression.
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