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Comedy Shows Revenues
A financier whose specialty is investing in comedy shows has observed that,in general,shows with "big-name" stars seem to generate more revenue than those shows whose stars are less well known.To examine his belief he records the gross revenue and the payment (in $ millions)given to the two highest-paid comedians in the show for ten recently staged shows.
-{Comedy Shows Revenues Narrative} Use the predicted and actual values of y to calculate the residuals.
Preservation
The act of maintaining or safeguarding something in its original or current state to prevent decay or destruction.
Efficient Outcome
A situation where resources are allocated in the most effective manner, leaving no room for improvement without making someone worse off.
Marginal Social Benefit
The additional benefit to society from consuming one more unit of a good or service.
Nonrival Good
Good for which the marginal cost of its provision to an additional consumer is zero.
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