Heres a multiple regression model for the variables considered in Exercise 12: Response variable is: Gross($M) R
Question:
Here’s a multiple regression model for the variables considered in Exercise 12:
Response variable is: Gross($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.
Step by Step Answer:
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman