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 66 movies, 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=−0.840+1.4108Xi. Determine the coefficient of determination,r2,and interpret its meaning. Determine the standard error of the estimate. How useful do you think this regression model is for predicting opening weekend box office gross? Can you think of other variables that might explain the variation in opening weekend box office gross?
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 66 movies, 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=−0.840+1.4108Xi. Determine the coefficient of determination,r2,and interpret its meaning. Determine the standard error of the estimate. How useful do you think this regression model is for predicting opening weekend box office gross? Can you think of other variables that might explain the variation in opening weekend box office gross?
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 66 movies, 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=−0.840+1.4108Xi.
Determine the coefficient of determination,r2,and interpret its meaning.
Determine the standard error of the estimate.
How useful do you think this regression model is for predicting opening weekend box office gross?
Can you think of other variables that might explain the variation in opening weekend box office gross?
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Box Office Gross
Opening Weekend
Box Office Gross
($millions)
8.002
59.463
14.788
89.633
4.690
33.377
3.705
1.513
18.470
12.202
4.357
Online Trailer
Views (millions)
59.849
10.983
9.275
11.624
83.034
33.952
22.680
8.321
5.190
45.118
5.095
29.259
4.944
57.163
7.773
11.816
9.667
0.300
1.899
6.321
8.465
9.779
29.490
0.358
3.421
10.464
49.393
3.836
33.760
7.458
12.125
57.308
82.074
($millions)
35.061
8.755
1.928
23.002
104.285
66.103
14.638
11.661
10.732
36.664
17.642
12.721
5.067
148.573
9.525
5.955
0.998
6.420
0.521
7.355
4.474
3.934
97.477
5.342
11.112
16.541
48.824
2.481
17.567
10.822
15.105
40.564
173.653
Online Trailer
Views (millions)
7.093
33.264
0.223
42.171
4.989
6.630
0.942
2.258
11.327
8.966
15.177
13.714
31.231
52.612
16.235
6.884
11.698
2.827
23.075
12.606
0.826
27.536
7.273
3.323
4.267
3.790
7.597
12.912
7.067
5.020
7.739
16.795
7.643
30.436
53.003
46.607
13.003
3.776
18.223
3.471
13.602
40.011
1.385
20.130
3.404
1.207
10.951
8.344
11.614
13.501
5.106
1.985
22.800
13.689
2.080
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