Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A researcher is studying the factors related to the popularity of new music artists. In particular, she is interested in assessing the extent to which

A researcher is studying the factors related to the popularity of new music artists. In particular, she is interested in assessing the extent to which the number of albums sold (thousands) is explained by the number of YouTube views (millions) the artists currently have, their number of Facebook fans (millions), and the number of weeks they did not make the coveted JJ's Top 50 list in the last 12 months.

A random sample of 57 popular new artists was collected (see partial data in the following table).

New Artist YouTube views (millions) Facebook fans (millions) Weeks off Top 50 Albums sold ('000)
1 85.86 7.84 32.3 25.31
2 295.38 14.91 19.1 96.177
3 64.14 9.48 31.9 30.224

The researcher used software to generate a multiple linear regression output for the data. The results are shown below (some values are missing). a) Determine the missing values. Report answers accurate to at least 5 decimal places where necessary. Do not round intermediate results.

MultipleR
RSquare
AdjustedR2
Standard Error
Observations

df SS MS F
Regression 11811.8408 421.7833
Residual 53 1484.2397
Total 56

Coefficient Standard Error t-stat p-value
Intercept 4.378411 11.16231 0.6964
YouTube 0.266851 27.71614 0.0000
Facebook 0.307991 5.58382 0.0000
Top 50 -0.298797 -1.06838 0.2902

b) What percent of the variation in the dependent variable isnotexplained by the independent variables in this model?Round percent to 1 decimal place % c) Use the regression coefficients from the output to estimate the number of albums sold (units) for a new artist with 128 million YouTube views, having 9,676,873 Facebook fans, and with exactly 7.5 months off JJ's Top 50 list.[Hint: 1 year 52 weeks] d) Suppose the regression equation from the output is used to predict the number of albums sold by a new artist to be 14,804. If the artist has 59 million YouTube views and has successfully made JJ's Top 50 list 47.5% of the time in the last 12 months, how many Facebook fans (in thousands) does the artist have? Round to the nearest thousand.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals

Authors: James Stewart

7th edition

538497904, 978-0538497909

More Books

Students also viewed these Mathematics questions

Question

4. Jobe dy -Y 2 et by

Answered: 1 week ago