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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 Gross Revenue ($1,000s) 96 91 95 93 95 94 94 94 Television Newspaper Advertising Advertising ($1,000s) ($1,000s) 5 2 4 2.5 3 3.5 2.5 3 1.5 2 1.5 2.5 3.3 2.3 4.2 2.5 (a) Use a = 0.01 to test the hypotheses Ho: B₁-B₂-0 HP, and/or ₂ is not equal to zero for the model y=+*+₂₂+, where x₁ television advertising ($1,000s) X2= newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) 30.94 x Find the p-value. (Round your answer to three decimal places.) p-value-0.001 State your conclusion. Do not reject Ho. There is insufficient evidence to conclude that there is a sign Do not reject Ho. There is sufficient evidence to conclude that there is a signif Reject H. There is sufficient evidence to conclude that there is a significant re O Reject Ho. There is insufficient evidence to conclude that there is a significant

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 Revenue ($1,000s) 96 91 95 93 95 94 94 94 Television Newspaper Advertising Advertising ($1,000s) ($1,000s) 5 2 4 2.5 3 3.5 2.5 3 1.5 2 1.5 2.5 3.3 2.3 4.2 2.5 (a) Use a = 0.01 to test the hypotheses Ho: B₁-B₂-0 HP, and/or ₂ is not equal to zero for the model y=+*+₂₂+, where x₁ television advertising ($1,000s) X2= newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) 30.94 x Find the p-value. (Round your answer to three decimal places.) p-value-0.001 State your conclusion. Do not reject Ho. There is insufficient evidence to conclude that there is a sign Do not reject Ho. There is sufficient evidence to conclude that there is a signif Reject H. There is sufficient evidence to conclude that there is a significant re O Reject Ho. There is insufficient evidence to conclude that there is a significant

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 3BGP
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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 Gross Revenue ($1,000s) 96 91 95 93 95 94 94 94 Newspaper Television Advertising Advertising ($1,000s) ($1,000s). 5 2 4 2.5 3 3.5 2.5 3 1.5 2 1.5 2.5 3.3 2.3 4.2 2.5 (a) Use a = 0.01 to test the hypotheses Ho: P₁=B₂=0 HB, and/or ₂ is not equal to zero. for the model y = ₁ + B₂x₂ + B₂x₂ + c, where *₁ = television advertising ($1,000s) *2= newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) 30.94 x Find the p-value. (Round your answer to three decimal places.) p-value 0.001 State your conclusion. Do not reject Ho. There is insufficient evidence to conclude that there is a sigr Do not reject Ho. There is sufficient evidence to conclude that there is a signif Reject Ho. There is sufficient evidence to conclude that there is a significant re O Reject Ho. There is insufficient evidence to conclude that there is a significant
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 Gross Revenue ($1,000s) 96 91 95 93 95 94 94 94 Newspaper Television Advertising Advertising ($1,000s) ($1,000s). 5 2 4 2.5 3 3.5 2.5 3 1.5 2 1.5 2.5 3.3 2.3 4.2 2.5 (a) Use a = 0.01 to test the hypotheses Ho: P₁=B₂=0 HB, and/or ₂ is not equal to zero. for the model y = ₁ + B₂x₂ + B₂x₂ + c, where *₁ = television advertising ($1,000s) *2= newspaper advertising ($1,000s). Find the value of the test statistic. (Round your answer to two decimal places.) 30.94 x Find the p-value. (Round your answer to three decimal places.) p-value 0.001 State your conclusion. Do not reject Ho. There is insufficient evidence to conclude that there is a sigr Do not reject Ho. There is sufficient evidence to conclude that there is a signif Reject Ho. There is sufficient evidence to conclude that there is a significant re O Reject Ho. There is insufficient evidence to conclude that there is a significant
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