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Dixie Showtime Movie Theaters, Inci, owns and operates a chain of cinemas in several markets in the southern U.S. The owners would like to estimate weekly gross 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 teievision advertising as the independent variable. Let x represent the amount of television advertising. If required, round your answers to three decimal places. For subtractive or negotive numbers use a minus sign even if Wse the data to develop an estimated regression equation with the amount of television advertising as the Independent variable. Let x represent the amount of television advertising. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: 300 ) y= Test for a significant relationship between television advertising and weekly gross revenue at the 0.05 level of: signifleance. 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 weekly gross revenue does the model in part (a) explain? If required, round your answer to two decimal places. (c) Use the data to develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Let x1 represent the amount of television advertising. Let x2 represent the amount of newspoper advertising. c) Use the data to develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Let x1 represent the amount of televiston advertising. Let X z represent the amount of newspaper advertising. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: 300 ) y= x1+ 2 Test whether each of the regression parameters 0,, and is equal to zero at a 0.05 level of significance. We conclude that a=0. We conclude that 2=0. We conciude that 2=0. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? (i) Ao is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. z 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. , is the estimate of change in the weekly gross revenue if newspaper advertising is held constant and there is a $100 increase in television advertising. The interpretation of 0 is not ceasonable but the interpretations of 3 and are reasonable. (ii) Bo is the estimate of change in the weekly gross revenue if newspaper advertising is held constant and there is (i) for it the cricmote of the weekly gress revence when teievision ant newspaser afverteging are both zero. Af is the estimate of shange in the wethy gress ravenue if talevaisn acrertising a neld constant and there is a sfoo If crease in newipeper adistiting. 9 s is the estimate of change in the Weebly gross revence if newspaper adwerting is held constant and there is a s100 increase in television atvertising The interpretation of so is not TwSsonetie but the interpretations of drand in are reasenable. (ii) fo is the escmme of chatge in the wexily grost rovenue if rewipapec advertising is heid constant and there is and 5 sare all remonable adrertiging 4 heif eanstent ard there is a 3100 increase in newspaper advertising. The interpratatisn of ito is net resionable but the intwipratations of pl end po are reasonakie. If eequiret. pound vour answ to to tino decimal paces: (d) How much of the variation in the sample values of weekly gross revenue does 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 graded, but may be reviewed and considered by your instructor. (f) What are the mann mplications of these results? Management can feel confident that increased spending on advertising results in increased weekly gross revenue. The results also suadest that advertising may be slightly more effective than advertising in generating revenue. Dixie Showtime Movie Theaters, Inci, owns and operates a chain of cinemas in several markets in the southern U.S. The owners would like to estimate weekly gross 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 teievision advertising as the independent variable. Let x represent the amount of television advertising. If required, round your answers to three decimal places. For subtractive or negotive numbers use a minus sign even if Wse the data to develop an estimated regression equation with the amount of television advertising as the Independent variable. Let x represent the amount of television advertising. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: 300 ) y= Test for a significant relationship between television advertising and weekly gross revenue at the 0.05 level of: signifleance. 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 weekly gross revenue does the model in part (a) explain? If required, round your answer to two decimal places. (c) Use the data to develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Let x1 represent the amount of television advertising. Let x2 represent the amount of newspoper advertising. c) Use the data to develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Let x1 represent the amount of televiston advertising. Let X z represent the amount of newspaper advertising. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: 300 ) y= x1+ 2 Test whether each of the regression parameters 0,, and is equal to zero at a 0.05 level of significance. We conclude that a=0. We conclude that 2=0. We conciude that 2=0. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? (i) Ao is the estimate of the weekly gross revenue when television and newspaper advertising are both zero. z 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. , is the estimate of change in the weekly gross revenue if newspaper advertising is held constant and there is a $100 increase in television advertising. The interpretation of 0 is not ceasonable but the interpretations of 3 and are reasonable. (ii) Bo is the estimate of change in the weekly gross revenue if newspaper advertising is held constant and there is (i) for it the cricmote of the weekly gress revence when teievision ant newspaser afverteging are both zero. Af is the estimate of shange in the wethy gress ravenue if talevaisn acrertising a neld constant and there is a sfoo If crease in newipeper adistiting. 9 s is the estimate of change in the Weebly gross revence if newspaper adwerting is held constant and there is a s100 increase in television atvertising The interpretation of so is not TwSsonetie but the interpretations of drand in are reasenable. (ii) fo is the escmme of chatge in the wexily grost rovenue if rewipapec advertising is heid constant and there is and 5 sare all remonable adrertiging 4 heif eanstent ard there is a 3100 increase in newspaper advertising. The interpratatisn of ito is net resionable but the intwipratations of pl end po are reasonakie. If eequiret. pound vour answ to to tino decimal paces: (d) How much of the variation in the sample values of weekly gross revenue does 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 graded, but may be reviewed and considered by your instructor. (f) What are the mann mplications of these results? Management can feel confident that increased spending on advertising results in increased weekly gross revenue. The results also suadest that advertising may be slightly more effective than advertising in generating revenue