Question
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 | |
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.
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