Harry Potter revenue. The movie Harry Potter and the Sorcerers Stone opened as a great success. But

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Harry Potter revenue. The movie Harry Potter and the Sorcerer’s Stone opened as a great success. But every movie sees declining revenue over time. Here are the daily revenues for the movie during its first 17 days.

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a) Without plotting the data, what components can you see in this series? Be specific.
For some series, a “seasonal” effect repeats weekly rather than annually. Here’s a regression model fit to these data with dummy variables for days of the week. (Day# counts days starting at 1.)
Dependent variable is: Earnings R squared = 96.9% R squared (adjusted) = 94.6%
s = 2.365 with 17 - 8 = 9 degrees of freedom Variable Coeff SE(Coeff) t-ratio P-value Intercept 21.0000 2.090 10.0 0.0001 Day# 1.42857 0.1194 12.0 0.0001 Friday 12.4286 2.179 5.70 0.0003 Saturday 12.5238 2.166 5.78 0.0003 Sunday 7.95238 2.160 3.68 0.0051 Monday 4.28571 2.392 1.79 0.1068 Tuesday 2.35714 2.377 0.992 0.3473 Wednesday -0.928571 2.368 -0.392 0.7041

b) Interpret the coefficient of Day#.

c) Interpret the coefficient of Saturday in this model.

d) Predict what earnings probably were for Monday 12/3/01. What does this say about the model?

e) What probably happened to earnings after the initial 17 days?

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