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Week 2. The owner of Showtime Movie Theaters would like to estimate weekly gross revenue as a function of advertising expenditures. Historical data for
Week 2. The owner of Showtime Movie Theaters would like to estimate weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks are as below: Weekly gross revenue ($1000s) TV Advertising Newspaper Advertising ($1000s) ($1000s) 1 96 5.0 1.5 2 90 2.0 2.0 3 95 4.0 1.5 4 92 2.5 2.5 5 95 3.0 3.3 6 94 3.5 2.3 7 94 2.5 4.2 8 94 3.0 2.5 Following are the regression results for the data using Excel. In this problem, you will be interpreting the regression results. (For Practice, you may want to see if you can replicate these results using the data above in Excel.) (8 Points)
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