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The entire question is below. Thank you in advance for your help. Exercise 15.29 Algo (Using the Estimated Regression Equation for Estimation and Prediction) .
The entire question is below. Thank you in advance for your help.
Exercise 15.29 Algo (Using the Estimated Regression Equation for Estimation and Prediction) . Question 2 of 2 Check My Work The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (@1 ) and newspaper advertising (@2). Values of y, @1, and my are expressed in thousands of dollars. Weekly Television Newspaper Gross Revenue Advertising Advertising ($1000#) ($1000#) ($1000#) 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 Activit 94 3.5 2.3 94 2.5 4.2 94 3.0 2.5 The estimated regression equation was f = 83.23 + 2.20x1 + 1.30%2 a. What is the gross revenue expected for a week where $3,600 is spent on television (@1 = 8.5) and $1,800 is spent on newspaper advertising (23 = 1.8) (to 3 decimals)? $ thousand b. Provide a 9070 prediction interval for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a) (to 2 decimals). ( $ thousand, $ thousand) Check My WorkStep by Step Solution
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