Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The owner of a movie theater oompanv used multiple regression analysis to predict gross revenue (y) as a function or television advertising (x1) and newspaper
The owner of a movie theater oompanv used multiple regression analysis to predict gross revenue (y) as a function or television advertising (x1) and newspaper advertising (x2). The estimated regression equation was p = 33.5 + 2.2st + 1.80x2. The computer solution, based on a sample of eight weeks, provided SST = 25.5 and 55R = 23.425. (a) compute and interpret R2 and Raz. (Round your answers to three decimal places.) The proportion of the Varlah in the dependent variable that can he explained by the estimated multiple regression equation ls . Adjusting for the number of independent variables in the model, the proportion 0f the Variability in the dependent Variable that can be explained by the estimated multiple regression equatian is . (b) when television advertising was the only Independent variable, R2 = 0.653 and R52 = 0595. Do you prefer the multiple regression results? Explain. Multiple regression analysis preferred since both R2 and R52 show peroentege of the variability of y aplained when both independent variables are used
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