Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

fThe owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (3;) as a function of television advertising ($1) and newspaper

image text in transcribedimage text in transcribed
\fThe owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (3;) as a function of television advertising ($1) and newspaper advertising (12). Values of y, :31, and I; are expressed in thousands of dollars. Weekly Gross Television Newspaper Revenue Advertising Advertising ($10003) ($10003) ($10008) 96 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 95 3.0 3.3 94 3.5 2.3 94 2.5 4.2 94 3.0 2.5 The estimated regression equation was :1} = 83.23 + 2.2931 + 1.30123 a. What is the gross revenue expected for a week where $3,500 is spent on television (31 = 3.5) and $1,800 is spent on newspaper advertising [:2 = 1.8) (to 3 decimals)? $' 93.585 @ thousand b. Provide a 95% prediction interval for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a) (to 2 decimals). ( $l 7' 0 thousand, $_ 7 5 0 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

The Structure Of Groups With A Quasiconvex Hierarchy (AMS-209)

Authors: Daniel T Wise

1st Edition

069121350X, 9780691213507

More Books

Students also viewed these Mathematics questions