Heres a multiple regression model for the variables considered in Exercise 12: Response variable is: Gross($M) R

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Here’s a multiple regression model for the variables considered in Exercise 12:

Response variable is: Gross($M)

R squared = 86.9% R squared (adjusted) = 85.6%

s = 146.9 with 33 - 4 = 29 degrees of freedom Variable Coefficient SE(Coeff) t-ratio P-value Intercept -1596.40 280.8 -5.68 60.0001 Attendance 163.515 57.88 2.83 0.0085 Playing weeks

-0.177197 0.5337

-0.332 0.7423 New Productions 21.7613 6.709 3.24 0.0030

a) Write the regression model.

b) What does the coefficient of Attendance mean in this regression?

c) In a season in which attendance was 13 million over 1500 playing weeks for 45 new productions, what does the model predict the gross would be?

d) Is this likely to be a good prediction? Explain.

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Business Statistics

ISBN: 9781292269313

4th Global Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman

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