Question

Government funding: The following table presents the budget (in millions) for selected organizations that received U.S. government funding for arts and culture in both 2006 and 2016.

Organization    2006           2016
Corporation for Public Broadcasting 460           445
Institute of Museum and Library Services   247           237
National Endowment for the Humanities 142           148
National Endowment for the Arts 124           148
National Gallery of Art 95           147
Commission of Fine Arts 2           3
Advisory Council on Historic Preservation   5           6

Source: National Endowment for the Arts
a. Compute the least-squares regression line for predicting the 2016 budget from the 2006 budget.
b. If two institutions have budgets that differ by 10 million dollars in 2006, by how much would you predict their budgets to differ in 2016?
c.Predict the 2016 budget for an organization whose 2006 budget was 100 million dollars.

Answer 1