A company that holds the DVD distribution rights to movies previously released only in theaters wants to estimate sales revenue of DVDs based on box office success. The box office gross(in $millions) for each of 22 movies in the year that they were released and the DVD revenue(in $millions) in the following year are shown in the accompanyingtable, along with the summary statistics. A linear regression was performed on thisdata, and the result is the linear regression equation Yi=8.689+0.3971X. Complete parts(a) through(d) below.

Movie Gross (X) DVD Revenue (Y) X^2 Y^2 XY

1 107.51 84.85 11,558.4001 7,199.5225 9,122.2235

2 178.83 109.18 31,980.1689 11,920.2724 19,524.6594

3 161.74 43.01 26,159.8276 1,849.8601 6,956.4374

4 92.75 60.17 8,602.5625 3,620.4289 5,580.7675

5 105.52 64.49 11,134.4704 4,158.9601 6,804.9848

6 87.44 57.52 7,645.7536 3,308.5504 5,029.5488

7 88.95 45.73 7,912.1025 2,091.2329 4,067.6835

8 66.96 38.34 4,483.6416 1,469.9556 2,567.2464

9 85.74 46.98 7,351.3476 2,207.1204 4,028.0652

10 104.55 34.28 10,930.7025 1,175.1184 3,583.9740

11 33.64 27.95 1,131.6496 781.2025 940.2380

12 149.19 31.59 22,257.6561 997.9281 4,712.9121

13 63.82 26.84 4,072.9924 720.3856 1,712.9288

14 42.96 27.07 1,845.5616 732.7849 1,162.9272

15 62.36 26.81 3,888.7696 718.7761 1,671.8716

16 58.41 21.63 3,411.7281 467.8569 1,263.4083

17 77.28 43.05 5,972.1984 1,853.3025 3,326.9040

18 36.63 23.12 1,341.7569 534.5344 846.8856

19 36.45 17.74 1,328.6025 314.7076 646.6230

20 43.83 16.14 1,921.0689 260.4996 707.4162

21 35.43 17.85 1,255.2849 318.6225 632.4255

22 16.59 16.42 275.2281 269.6164 272.4078

Totals 1736.58 880.76 176,461.4744 46,971.2388 85,162.5386

a. Determine the coefficient ofdetermination, r2, and interpret its meaning.

r2=_____

Interpret the meaning of r2. Choose the correct answer below.

The value of r2 indicates that______ % of the variation in DVD revenue or box office gross can be explained by the variation in DVD revenue or box office gross.

b. Determine the standard error of the estimate.

SYX=_____

c. How useful do you think this regression model is for predicting DVDrevenue?

A. It is not useful for predicting DVD revenue because the coefficient of determination is close to 0.

B.It is not useful for predicting DVD revenue because the coefficient of determination is close to 1.

C.It is somewhat useful for predicting DVD revenue because the coefficient of determination is closer to 1 than it is to 0.

D.It is very useful for predicting DVD revenue because the coefficient of determination is very close to 1.

d. Can you think of other variables that might explain the variation in DVDrevenue?

A.Another variable could be the genre of movie.

B.Another variable could be the amount of money spent on marketing the theater release.

C.Another variable could be the time of year when the DVD was released.

D.Another variable could be the amount of money spent on marketing the DVD release.

E.Another variable could be the time of year when the movie was released in theaters.