The owner of a movie theater company would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Weekly Gross Television Newspaper Advertising Advertising ($1,000s) Revenue ($1,000s) ($1,000s) 96 1.5 91 95 4 1.5 92 2.5 2.5 95 3 3.3 94 3.5 2.3 94 2.5 4.1 94 3 2.5 (a) Use g = 0.01 to test the hypotheses Ho:B, = 82 = 0 H: B, and/or B, is not equal to zero %3D for the model y = B, + B,x, + B,x, + E, where x, = television advertising ($1,000s) X2 = newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal places.) p-value = State your conclusion. O Reject Hg. There is insufficient evidence to conclude that there is a significant relationship among the variables. O Do not reject H. There is sufficient evidence to conclude that there is a significant relationship among the variables. O Do not reject Ho. There is insufficient evidence to conclude that there is a significant relationship among the variables. O Reject H,. There is sufficient evidence to conclude that there is a significant relationship among the variables.

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The owner of a movie theater company would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow.
Weekly
Television
Newspaper
Advertising Advertising
($1,000s)
Gross
Revenue
($1,000s)
($1,000s)
96
5
1.5
91
2
95
1.5
92
2.5
2.5
95
3
3.3
94
3.5
2.3
94
2.5
4.1
94
3
2.5
(a) Use a = 0.01 to test the hypotheses
Hoiß = B2 = 0
H:B, and/or B, is not equal to zero
for the model y = B, + B,x, + B2x2 + E, where
x, = television advertising ($1,000s)
X, = newspaper advertising ($1,000s).
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to three decimal places.)
p-value = |
State your conclusion.
O Reject H,. There is insufficient evidence to conclude that there is a significant relationship among the variables.
O Do not reject H,. There is sufficient evidence to conclude that there is a significant relationship among the variables.
O Do not reject H,. There is insufficient evidence to conclude that there is a significant relationship among the variables.
O Reject H,. There is sufficient evidence to conclude that there is a significant relationship among the variables.
Transcribed Image Text:The owner of a movie theater company would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Weekly Television Newspaper Advertising Advertising ($1,000s) Gross Revenue ($1,000s) ($1,000s) 96 5 1.5 91 2 95 1.5 92 2.5 2.5 95 3 3.3 94 3.5 2.3 94 2.5 4.1 94 3 2.5 (a) Use a = 0.01 to test the hypotheses Hoiß = B2 = 0 H:B, and/or B, is not equal to zero for the model y = B, + B,x, + B2x2 + E, where x, = television advertising ($1,000s) X, = newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal places.) p-value = | State your conclusion. O Reject H,. There is insufficient evidence to conclude that there is a significant relationship among the variables. O Do not reject H,. There is sufficient evidence to conclude that there is a significant relationship among the variables. O Do not reject H,. There is insufficient evidence to conclude that there is a significant relationship among the variables. O Reject H,. There is sufficient evidence to conclude that there is a significant relationship among the variables.
(b) Use a = 0.05 to test the significance of 8,.
State the null and alternative hypotheses.
O Ho: B, = 0
H: B, < 0
o Ho: P1 = 0
H: B, + 0
o Ho: B1 <o
H: B = 0
o Ho: B1 = 0
H: B, > 0
O Ho: B, +0
H: B, = 0
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to three decimal places.)
p-value =
State your conclusion.
O Reject H,. There is sufficient evidence to conclude that 8, is significant.
O Do not reject Hn. There is insufficient evidence to conclude that 8, is significant.
O Reject H,. There is insufficient evidence to conclude that 8, is significant.
O Do not reject H,. There is sufficient evidence to conclude that 8, is significant.
Should x, be dropped from the model?
O Yes
O No
(c) Use a = 0.05 to test the significance of 8,.
State the null and alternative hypotheses.
o Ho: B, < 0
H: 82 = 0
o Ho: B2 = 0
H: B, = 0
o Fo: P2 = 0
H: 82 + 0
o Ho: B2 = 0
H: B, < 0
o Ho: B2 = 0
Find the value of the test statistic. (Round your answer to two decimal places.)
Transcribed Image Text:(b) Use a = 0.05 to test the significance of 8,. State the null and alternative hypotheses. O Ho: B, = 0 H: B, < 0 o Ho: P1 = 0 H: B, + 0 o Ho: B1 <o H: B = 0 o Ho: B1 = 0 H: B, > 0 O Ho: B, +0 H: B, = 0 Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal places.) p-value = State your conclusion. O Reject H,. There is sufficient evidence to conclude that 8, is significant. O Do not reject Hn. There is insufficient evidence to conclude that 8, is significant. O Reject H,. There is insufficient evidence to conclude that 8, is significant. O Do not reject H,. There is sufficient evidence to conclude that 8, is significant. Should x, be dropped from the model? O Yes O No (c) Use a = 0.05 to test the significance of 8,. State the null and alternative hypotheses. o Ho: B, < 0 H: 82 = 0 o Ho: B2 = 0 H: B, = 0 o Fo: P2 = 0 H: 82 + 0 o Ho: B2 = 0 H: B, < 0 o Ho: B2 = 0 Find the value of the test statistic. (Round your answer to two decimal places.)
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