Chapter 11.2, Problem 11.27ACI

Forecasting movie revenues with Twitter. Marketers are keenly interested in how social media (e.g., Facebook, Twitter) may influence consumers who buy their products. Researchers investigated whether the volume of chatter on Twitter. com could be used to forecast the box office revenues of movies (IEEE International Conference on Web Intelligence and Intelligent Agent Technology, 201 0). Opening weekend box office revenue data (in millions of dollars) were collected for a sample of 23 recent movies. In addition, the researchers computed each movie’s tweet rate, i.e., the average number of tweets (at Twitter. com) referring to the movie per hour 1 week prior to the movie's release. The data (simulated based on information provided in the study) are listed in the accompanying table. Assuming that movie revenue and tweet rate are linearly related, how much do you estimate a movie's opening weekend revenue to change as the tweet rate for the movie increases by an average of 100 tweets per hour?

Tweet Rate	Revenue (millions)
1365.8	142
1212.8	77
581.5	61
310.1	32
455	31
290	30
250	21
680.5	18
150	18
164.5	17
113.9	16
144.5	15
418	14
98	14
100.8	12
115.4	11
74.4	10
87.5
127.6
52.2
144.1
41.3
2.75	0.3