The average movie ticket prices in selected years since 1948 are listed in the table below. $$\begin{array} { | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Movie Ticket } \
\text { Price }
\end{array} \
\hline 1948 & \$ 0.36 \
\hline 1954 & \$ 0.49 \
\hline 1958 & \$ 0.68 \
\hline 1963 & \$ 0.86 \
\hline 1967 & \$ 1.22 \
\hline 1971 & \$ 1.65 \
\hline 1974 & \$ 1.89 \
\hline 1974 & \$ 2.03 \
\hline 1976 & \$ 2.13 \
\hline 1977 & \$ 2.23 \
\hline 1978 & \$ 2.34 \
\hline 1979 & \$ 2.47 \
\hline 1980 & \$ 2.69 \
\hline 1981 & \$ 2.78 \
\hline 1982 & \$ 2.94 \
\hline 1983 & \$ 3.15 \
\hline 1984 & \$ 3.36 \
\hline 1985 & \$ 3.55 \
\hline 1986 & \$ 3.71 \
\hline 1987 & \$ 3.91 \
\hline 1988 & \$ 4.11 \
\hline
\end{array}$$
a. Use re-expressed data to create a model that predicts ticket prices. (Hint: scale the year)
b. Find the movie ticket price this model predicts for 2004.

Question

The average movie ticket prices in selected years since 1948 are listed in the table below. $$\begin{array} { | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Movie Ticket } \
\text { Price }
\end{array} \
\hline 1948 & \$ 0.36 \
\hline 1954 & \$ 0.49 \
\hline 1958 & \$ 0.68 \
\hline 1963 & \$ 0.86 \
\hline 1967 & \$ 1.22 \
\hline 1971 & \$ 1.65 \
\hline 1974 & \$ 1.89 \
\hline 1974 & \$ 2.03 \
\hline 1976 & \$ 2.13 \
\hline 1977 & \$ 2.23 \
\hline 1978 & \$ 2.34 \
\hline 1979 & \$ 2.47 \
\hline 1980 & \$ 2.69 \
\hline 1981 & \$ 2.78 \
\hline 1982 & \$ 2.94 \
\hline 1983 & \$ 3.15 \
\hline 1984 & \$ 3.36 \
\hline 1985 & \$ 3.55 \
\hline 1986 & \$ 3.71 \
\hline 1987 & \$ 3.91 \
\hline 1988 & \$ 4.11 \
\hline
\end{array}$$ 
a. Use re-expressed data to create a model that predicts ticket prices. (Hint: scale the year)
b. Find the movie ticket price this model predicts for 2004.

Quizplus · Accepted Answer

The Answer of The average movie ticket prices in selected years since 1948 are listed in the table below. $$\begin{array} { | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Movie Ticket } \
\text { Price }
\end{array} \
\hline 1948 & \$ 0.36 \
\hline 1954 & \$ 0.49 \
\hline 1958 & \$ 0.68 \
\hline 1963 & \$ 0.86 \
\hline 1967 & \$ 1.22 \
\hline 1971 & \$ 1.65 \
\hline 1974 & \$ 1.89 \
\hline 1974 & \$ 2.03 \
\hline 1976 & \$ 2.13 \
\hline 1977 & \$ 2.23 \
\hline 1978 & \$ 2.34 \
\hline 1979 & \$ 2.47 \
\hline 1980 & \$ 2.69 \
\hline 1981 & \$ 2.78 \
\hline 1982 & \$ 2.94 \
\hline 1983 & \$ 3.15 \
\hline 1984 & \$ 3.36 \
\hline 1985 & \$ 3.55 \
\hline 1986 & \$ 3.71 \
\hline 1987 & \$ 3.91 \
\hline 1988 & \$ 4.11 \
\hline
\end{array}$$ 
a. Use re-expressed data to create a model that predicts ticket prices. (Hint: scale the year)
b. Find the movie ticket price this model predicts for 2004.

The Average Movie Ticket Prices in Selected Years Since 1948