Answered step by step
Verified Expert Solution
Question
1 Approved Answer
for the movie increases by an average of 100 tweets per hour? Note: If you use Excel for regression analysis, you will need to enclose
for the movie increases by an average of 100 tweets per hour? Note: If you use Excel for regression analysis, you will need to enclose the screenshot of your regression output in your answer sheet. Tweet Rate Revenue (millions) 1365.8 142 1212.8 77 581.5 61 310.1 32 455 31 290 30 250 21 680.5 18 150 164.5 113.9 144.5 418 98 100.8 115.4 74.4 87.5 127.6 52.2 144.1 413 2.75 311.27 Forecasting movie revenues with Twitter. Marketers are keenly interested in how social media (e.g., Facebook, TWEETS Twitter) may influence consumers who buy their products. Researchers investigated whether the volume of chatter on Twitter.com could be used to forecast the box office revenues of movies (IEEE International Conference on Web Intelligence and Intelligent Agent Technology, 2010). Opening weekend box office revenue data (in millions of dollars) were collected for a sample of 23 recent mov- ies. In addition, the researchers computed each movie's tweet rate, i.e., the average number of tweets (at Twitter. com) referring to the movie per hour 1 week prior to the movie's release. The data (simulated based on informa- tion provided in the study) are listed in the accompanying table. Assuming that movie revenue and tweet rate are linearly related, how much do you estimate a movie's opening weekend revenue to change as the tweet rate for the movie increases by an average of 100 tweets per hour? Note: If you use Excel for regression analysis, you will need to enclose the screenshot of your regression output in your answer sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started