Dixie Showtime Movie Theaters, Inc., owns and operates a chain of cinemas in several markets in the southern U.S. The owners would like to estimate weekly gross revenue as a function of advertising expenditures. Data for a sample of eight markets for a recent week follow.

Dixie Showtime Movie Theaters, Inc., owns and operates a chain of cinemas in several markets in the southern U.S. The owners would like to estimate weekly gross revenue as a function of advertising expenditures. Data for a sample of eight markets for a recent week follow Market Mobile Shreveport Jackson Birmingham Little Rock Biloxi New Orleans Baton Rouge Weekly Gross Revenue Television Advertising Newspaper Advertising ($100s) 5.1 3.2 4 4.3 3.5 3.6 ($100s) 102.5 52.7 75.8 127.8 137.8 101.4 237.8 219.6 ($100s) 1.6 1.5 2.3 8.4 6.9 (a) Use the data to develop an estimated regression with the amount of television advertising as the independent variable Let x represent the amount of television advertising If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) (b) How much of the variation in the sample values of weekly gross revenue does the model in part (a) explain? If required, round your answer to two decimal places (c) Use the data to develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables Let xi represent the amount of television advertising. Let x2 represent the amount of newspaper advertising If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a -300) sign before the blank. (Example: X2 (d) How much of the variation in the sample values of weekly gross revenue does the model in part (c) explain? If required, round your answer to two decimal places. V% (e) Given the results in part (a) and part (c), what should your next step be? Explain The input in the box below will not be graded, but may be reviewed and considered by your instructor blank (f) What are the managerial implications of these results? The input in the box below will not be graded, but may be reviewed and considered by your instructor blank Check My Work