The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. My UHart i University of Han Weekly Gross Revenue Television Advertising ($1,000s) Newspaper Advertising ($1,000s) ($1,000s) 96 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 95 3.0 3.3 94 3.5 2.3 94 2.5 4.2 94 3.0 2.5 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), In thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x, + 1.30x2.

The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. My UHart i University of Han Weekly Gross Revenue Television Advertising ($1,000s) Newspaper Advertising ($1,000s) ($1,000s) 96 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 95 3.0 3.3 94 3.5 2.3 94 2.5 4.2 94 3.0 2.5 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), In thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x, + 1.30x2.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

My UHart | University of Hartford
The owner of Showtime Movie Theaters, Inc., 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)
Television
Advertising
($1,000s)
Newspaper
Advertising
($1,000s)
96
5.0
1.5
90
2.0
2.0
95
4.0
1.5
92
2.5
2.5
95
3.0
3.3
94
3.5
2.3
94
2.5
4.2
94
3.0
2.5
The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), in thousands of dollars, and newspaper advertising
(x,), in thousands of dollars. The estimated regression equation was
= 83.2 + 2.29x, + 1.30x2.
(a) What is the gross revenue (in dollars) expected for a week when $3,000 is spent on television advertising (x, = 3) and $3,300 is spent on newspaper advertising (x, = 3.3)? (Round your answer
to the nearest dollar.)
%$4
(b) Provide a 95% confidence interval (in dollars) for the mean revenue of all weeks with the expenditures listed in part (a). (Round your answers to the nearest dollar.)
to $
(c) Provide a 95% prediction interval (in dollars) for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a). (Round your answers to the nearest dollar.)

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