Dixie Showtime Movie Theaters, Inc. owns and operates a chain of cinemak in lieveral markets in the southern U.S. The owners would llke to estimate weekdy oross revenue as a function of advertising expenditures. Data for a sample of eight markets for a recent week follow, a) Use the data to develop an estimated regression equation with the amount of television advertising as the independent variable. (a) Use the datal to develop an estimated regression equation with the amount of tefovision advertizing as the independent varishle. Let x represent the amount of television advertising. If required, round your answers to three decimat places. For subitractive of negative numbers use a minus sign even it there is a + gign before the blank. (Examples -300) y) Test for a significant relationship between television advertising and weekly gross revenue at the 0.05 level of significance. What is the interpretation of this relationship? There a significant relationship between the amount spent on television advertising and weekly gross revenue. The estimated regression equation is the best estimate of the : given the b) How much of the variation in the sample values of weehly gross revenue does the model in part (a) explain? If required, round your answer to two decimat places. 96 Use the data to develop an estimated regression equation with both television advertisino and newspaper advertising as the independen variables. Let x2 represent the amount of television advertising. Let x2 represent the amount of newspaper advertising. variables, Let x1 represent the amount of tndevision advertising. Lot x2 repreisent the amount of newspaper advertising. If reauired, round your answern to three dedmal places. for subtractive or negathy numberi use a misus sign even if these b a + dign before the bank. (fxample: - 300) y2= Tent whether each of the regression parameters A03, and 2 is equat to zero at a 0.05 leved of sianificaeice. We conclude that B0=0. conclude that 1=0i conclude that 2=0. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? (i) B0 is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. B2 is the estlimate of change in the weekly aross revenue if newspaper advertising is held constant and there is a $100 increase in television advertising- B2 is the estimate of change in the weekly gross revenue if television advertising is held constant and there is a $100 increase in newspaper advertising. The interpretation of 0 is not reasonable but the interpretations of 1 and 2 are reasonable. (ii) Bo is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. 1 is the estimate of chan in the weekly gross revenue if television advertising is held constant and there is a $100 increase in newspapet advertising. B 2 is th p in the weekly aross revenue if newspaper advertising is held constant and there is a $100 increase in televisior What are the correct internetations of the estimated regression parameters? Mre these intergretations reistonatier? (i) Fo is the estimate of the weekdy gross revenue when television and newpaper advertisino are hoth rero. By his thin estimate of change estimate of change in the weekfy gross reventa if tolewidon advertieing is held constant and there is a 3100 increise in rewspapes advertising. The interpretation of is not reasenatle but the interpretations of B1 and 2 are reasonatie. in the weekly gross revenue If television advectising in hold constant and there is a 9100 increase in newipaper adretisitie- 2 is the estimate of change in the weekly oross revenue if newspaper advertishy is held constant and there is a $100 increase in televisich advertising. The interpretation of bo is not reasonable but the interpretatlons of B 1 arid A2 are reatonable. (iii) Ao is the estimate of change in the weekly oross revenue if newobaper advertising his hedd comstant and there is a 4 ioo incieate in. television advertising. f1 is the estimate of change in the weekly gross revenue If televison advertiuing is beld ccostant and there is a 5100 increase in newspaper advertiaing. 2 is the estimate of the weebly gross reverwe when tolevision and newseaper advertihing are both zero. The interpretation of 0,b3, and f2 are all reasonable. (d) How much of the variation in the sample values of weekly gross revenue dons the model in part (c) explain? If required, round your answer to two decimal places. 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 oraded, but may be reviewed and considered by your instructor If required, round your answer to two decienal placer. (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. (f) What are the managerial implications of these results? Management can feel confident that increased spending on advertizing result in increased wee aross revenue. The results also suggest that advertising may be sitghtty more effective than advertising in generating revenue. Dixie Showtime Movie Theaters, Inc. owns and operates a chain of cinemak in lieveral markets in the southern U.S. The owners would llke to estimate weekdy oross revenue as a function of advertising expenditures. Data for a sample of eight markets for a recent week follow, a) Use the data to develop an estimated regression equation with the amount of television advertising as the independent variable. (a) Use the datal to develop an estimated regression equation with the amount of tefovision advertizing as the independent varishle. Let x represent the amount of television advertising. If required, round your answers to three decimat places. For subitractive of negative numbers use a minus sign even it there is a + gign before the blank. (Examples -300) y) Test for a significant relationship between television advertising and weekly gross revenue at the 0.05 level of significance. What is the interpretation of this relationship? There a significant relationship between the amount spent on television advertising and weekly gross revenue. The estimated regression equation is the best estimate of the : given the b) How much of the variation in the sample values of weehly gross revenue does the model in part (a) explain? If required, round your answer to two decimat places. 96 Use the data to develop an estimated regression equation with both television advertisino and newspaper advertising as the independen variables. Let x2 represent the amount of television advertising. Let x2 represent the amount of newspaper advertising. variables, Let x1 represent the amount of tndevision advertising. Lot x2 repreisent the amount of newspaper advertising. If reauired, round your answern to three dedmal places. for subtractive or negathy numberi use a misus sign even if these b a + dign before the bank. (fxample: - 300) y2= Tent whether each of the regression parameters A03, and 2 is equat to zero at a 0.05 leved of sianificaeice. We conclude that B0=0. conclude that 1=0i conclude that 2=0. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? (i) B0 is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. B2 is the estlimate of change in the weekly aross revenue if newspaper advertising is held constant and there is a $100 increase in television advertising- B2 is the estimate of change in the weekly gross revenue if television advertising is held constant and there is a $100 increase in newspaper advertising. The interpretation of 0 is not reasonable but the interpretations of 1 and 2 are reasonable. (ii) Bo is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. 1 is the estimate of chan in the weekly gross revenue if television advertising is held constant and there is a $100 increase in newspapet advertising. B 2 is th p in the weekly aross revenue if newspaper advertising is held constant and there is a $100 increase in televisior What are the correct internetations of the estimated regression parameters? Mre these intergretations reistonatier? (i) Fo is the estimate of the weekdy gross revenue when television and newpaper advertisino are hoth rero. By his thin estimate of change estimate of change in the weekfy gross reventa if tolewidon advertieing is held constant and there is a 3100 increise in rewspapes advertising. The interpretation of is not reasenatle but the interpretations of B1 and 2 are reasonatie. in the weekly gross revenue If television advectising in hold constant and there is a 9100 increase in newipaper adretisitie- 2 is the estimate of change in the weekly oross revenue if newspaper advertishy is held constant and there is a $100 increase in televisich advertising. The interpretation of bo is not reasonable but the interpretatlons of B 1 arid A2 are reatonable. (iii) Ao is the estimate of change in the weekly oross revenue if newobaper advertising his hedd comstant and there is a 4 ioo incieate in. television advertising. f1 is the estimate of change in the weekly gross revenue If televison advertiuing is beld ccostant and there is a 5100 increase in newspaper advertiaing. 2 is the estimate of the weebly gross reverwe when tolevision and newseaper advertihing are both zero. The interpretation of 0,b3, and f2 are all reasonable. (d) How much of the variation in the sample values of weekly gross revenue dons the model in part (c) explain? If required, round your answer to two decimal places. 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 oraded, but may be reviewed and considered by your instructor If required, round your answer to two decienal placer. (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. (f) What are the managerial implications of these results? Management can feel confident that increased spending on advertizing result in increased wee aross revenue. The results also suggest that advertising may be sitghtty more effective than advertising in generating revenue