Data set: 2008Movies
The 2008Movies file contains data on movies released in 2008.
a. Calculate a regression model to predict box office from run time. Interpret the R2 value and test statistic for the slope in the context of this problem.
b. Create indicator variables for genre and MPAA rating. Use best subsets regression to determine an appropriate regression model.
i. Validate the model assumptions.
ii. Look at residual plots and check for heteroskedasticity, multicollinearity, autocorrelation, and outliers. Transform the data if it is appropriate.
iii. Submit your suggested least squares regression formula along with a limited number of appropriate graphs that provide justification for your model. Describe why you believe this model is best.
c. Conduct an extra sum of squares test to determine if one or more interaction terms (or quadratic terms) should be included in the model. You can choose any terms to test, but enough software output needs to be provided so that the instructor can verify your work.