The National Association of Theatre Owners is the largest exhibition trade organization in the world, representing more
Question:
The National Association of Theatre Owners is the largest exhibition trade organization in the world, representing more than 26,000 movie screens in all 50 states and in more than 20 countries worldwide. Its membership includes the largest cinema chains and hundreds of independent theater owners. It publishes statistics concerning the movie sector of the economy.
The file titled Flicks contains data on total U.S. box office grosses ($billion), total number of admissions
(billion), average U.S. ticket price ($), and number of movie screens for the years 1987–2015 (source:
National Association of Theatre Owners, www.natoonline.org/data, Feb. 2016).
a. Construct a regression equation that uses the other variables to predict total U.S. box office grosses.
b. Determine if the overall model is significant. Use a significance level of 0.05.
c. Determine the range of plausible values for the change in box office grosses if the average ticket price were increased by $1. Use a confidence level of 95%.
Step by Step Answer:
Business Statistics
ISBN: 9781292220383
10th Global Edition
Authors: David Groebner, Patrick Shannon, Phillip Fry