(g) Suppose a new movie (based on an epic novel) has just been released. Production costs were x2 = 11.4 million; promotion costs were x3 = 4.7 million; book sales were x4 = 8.1 million. Make a prediction for x1 = first-year box office receipts and find an 85% confidence interval for your prediction (if your software supports prediction intervals). (Use 1 decimal place.)prediction lower limit upper limit (h) Construct a new regression model with x3 as the response variable and x1, x2, and x4 as explanatory variables. (Use 2 decimal places.)x3 =+ x1+ x2+ x4Suppose Hollywood is planning a new epic movie with projected box office sales x1 = 100 million and production costs x2 = 12 million. The book on which the movie is based had sales of x4 = 9.2 million. Forecast the dollar amount (in millions) that should be budgeted for promotion costs x3 and find an 80% confidence interval for your prediction.prediction lower limit upper limit A motion picture industry analyst is studying movies based on epic novels. The following data were obtained for 10 Hollywood movies made in the past five years. Eachmovie was based on an epic novel. For these data, x,the movie, and x, = total book sales prior to movie release. All units are in millions of dollars.first-year box office receipts of the movie, x,total production costs of the movie, x3= total promotional costs of%DX28.512.9ХзX485.15.14.7106.35.88.850.25.22.115.1130.610.78.412.254.83.12.910.630.33.51.23.579.49.23.79.791.09.07.65.9135.415.17.720.87.989.310.24.5

Answered: Image /qna-images/answer/b3a9d95c-7d79-4868-bc7b-52bf5e3d4333.jpg

Answered: A motion picture industry analyst is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

(g) Suppose a new movie (based on an epic novel) has just been released. Production costs were x₂ = 11.4 million; promotion costs were x₃ = 4.7 million; book sales were x₄ = 8.1 million. Make a prediction for x₁ = first-year box office receipts and find an 85% confidence interval for your prediction (if your software supports prediction intervals). (Use 1 decimal place.)

prediction
lower limit
upper limit

(h) Construct a new regression model with x₃ as the response variable and x₁, x₂, and x₄ as explanatory variables. (Use 2 decimal places.)

x₃ =

+ x₁

+ x₂

+ x₄

Suppose Hollywood is planning a new epic movie with projected box office sales x₁ = 100 million and production costs x₂ = 12 million. The book on which the movie is based had sales of x₄ = 9.2 million. Forecast the dollar amount (in millions) that should be budgeted for promotion costs x₃ and find an 80% confidence interval for your prediction.

prediction
lower limit
upper limit

A motion picture industry analyst is studying movies based on epic novels. The following data were obtained for 10 Hollywood movies made in the past five years. Each
movie was based on an epic novel. For these data, x,
the movie, and x, = total book sales prior to movie release. All units are in millions of dollars.
first-year box office receipts of the movie, x,
total production costs of the movie, x3
= total promotional costs of
%D
X2
8.5
12.9
Хз
X4
85.1
5.1
4.7
106.3
5.8
8.8
50.2
5.2
2.1
15.1
130.6
10.7
8.4
12.2
54.8
3.1
2.9
10.6
30.3
3.5
1.2
3.5
79.4
9.2
3.7
9.7
91.0
9.0
7.6
5.9
135.4
15.1
7.7
20.8
7.9
89.3
10.2
4.5

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 7 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Time Series Analyses, Forecasting Methods, and Indices$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions