Answered: The owner of Showtime Movie Theaters,…

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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Transcribed Image Text:The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (1) and newspaper advertising (2). Values of y, ₁, and 2 are expressed in thousands of dollars. Click on the datafile logo to reference the data. DATA file The estimated regression equation was Weekly Gross Revenue ($1000s) 96 90 95 92 95 94 94 94 Television Advertising ($1000s) 5.0 2.0 4.0 2.5 3.0 3.5 2.5 3.0 Newspaper Advertising ($1000s) 1.5 2.0 1.5 2.5 3.3 2.3 4.2 2.5 ŷ = 83.23 +2.29x1 + 1.30x2 a. What is the gross revenue expected for a week where $3,500 is spent on television (1 = 3.5) and $1,800 is spent on newspaper advertising (2 = 1.8) (to 3 decimals)? Hint(s) Check My Work $ thousand b. Provide a 95% prediction interval for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a) (to 2 decimals). ($ * thousand, $ * thousand)

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Transcribed Image Text:The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (₁) and newspaper advertising (2). Values of y, ₁, and 2 are expressed in thousands of dollars. Click on the datafile logo to reference the data. DATA file The estimated regression equation was Weekly Gross Revenue ($1000s) 96 90 95 92 95 94 94 94 Television Advertising ($1000s) 5.0 2.0 4.0 2.5 3.0 3.5 2.5 3.0 Newspaper Advertising ($1000s) 1.5 2.0 1.5 2.5 3.3 2.3 4.2 2.5 Hint(s) Check My Work ŷ = 83.23 +2.29x1 + 1.30x2 a. What is the gross revenue expected for a week where $3,500 is spent on television (1= 3.5) and $1,800 is spent on newspaper advertising (2 = 1.8) (to 3 decimals)? 93.585 thousand b. Provide a 95% prediction interval for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a) (to 2 decimals). thousand, $ thousand)

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