A box office analyst seeks to predict opening weekend box office gross for movies. Toward this goal, the analyst plans to use online trailer views as a predictor. For each of the 66movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross (in millions of dollars) are collected and stored in the accompanying table. A linear regression was performed on these data, and the result is the linear regression equation Yi=−0.372+1.3802Xi.Complete parts (a) through (d).a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of the estimate.c. How useful do you think this regression model is for predicting opening weekend box office gross?d. Can you think of other variables that might explain the variation in opening weekend box office gross? ### Online Trailer Views vs. Opening Weekend Box Office GrossThe table below presents a comparison between online trailer views (measured in millions) and the corresponding opening weekend box office gross (measured in millions of dollars) for a range of films. The data is split into two columns, each listing trailer views juxtaposed with box office earnings.#### Online Trailer Views and Box Office Gross- **Column 1:** - **Trailer Views (millions):** - Ranges from 0.357 million to 86.661 million. - **Box Office Gross ($ millions):** - Ranges from 1.102 million to 104.670 million.- **Column 2:** - **Trailer Views (millions):** - Ranges from 0.272 million to 82.423 million. - **Box Office Gross ($ millions):** - Ranges from 0.353 million to 174.927 million.### AnalysisThe data indicates a potential relationship between the number of views a trailer receives online and the success of the film's box office performance during its opening weekend. Higher trailer view counts sometimes correlate with higher box office returns, although exceptions do exist. This table can be utilized for research and educational purposes to understand marketing impacts on movie earnings and to analyze consumer interest as predicted by trailer popularity.

The independent variable is Online Trailer Views. The dependent variable is Opening Weekend Box…

Answered: A box office analyst seeks to predict…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A box office analyst seeks to predict opening weekend box office gross for movies. Toward this goal, the analyst plans to use online trailer views as a predictor. For each of the 66movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross (in millions of dollars) are collected and stored in the accompanying table. A linear regression was performed on these data, and the result is the linear regression equation Yi=−0.372+1.3802Xi.

Complete parts (a) through (d).

a. Determine the coefficient of determination, r2, and interpret its meaning.
b. Determine the standard error of the estimate.
c. How useful do you think this regression model is for predicting opening weekend box office gross?
d. Can you think of other variables that might explain the variation in opening weekend box office gross?