A statistical program is recommended. 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 Television Advertising ($1,000s) Newspaper Advertising ($1,000s) Gross Revenue ($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 (a) Develop an estimated regression equation with the amount of television advertising as the independent variable. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s and y represent the weekly gross revenue in $1,000s.) (b) Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s, x, represent the amount of newspaper advertising in $1,000s, and y represent the weekly gross revenue in $1,000s.)
A statistical program is recommended. 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 Television Advertising ($1,000s) Newspaper Advertising ($1,000s) Gross Revenue ($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 (a) Develop an estimated regression equation with the amount of television advertising as the independent variable. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s and y represent the weekly gross revenue in $1,000s.) (b) Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s, x, represent the amount of newspaper advertising in $1,000s, and y represent the weekly gross revenue in $1,000s.)
A First Course in Probability (10th Edition)
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Chapter1: Combinatorial Analysis
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Transcribed Image Text:(c) Is the estimated regression equation coefficlent for television advertising expenditures the same in part (a) and In part (b)?
-Select-- v, it is
in part (a) and
in part (b).
Interpret the coefficient in each case.
O In part (a) it represents the change in revenue due to a one-unit increase in newspaper advertising expenditure with television advertising held constant. In part (b) It represents the change in revenue due to a one-unit increase in television advertising with newspaper
advertising held constant.
O In part (a) it represents the change in revenue due to a one-unit increase in television advertising expenditure with newspaper advertising held constant. In part (b) it represents the change in revenue due to a one-unit increase in newspaper advertising with television
advertising held constant.
O In part (a) it represents the change in revenue due to a one-unit increase in television advertising expenditure. In part (b) it represents the change in revenue due to a one-unit increase in newspaper advertising with television advertising held constant.
O In part (a) it represents the change in revenue due to a one-unit increase in television advertising with newspaper advertising held constant. In part (b) it represents the change in revenue due to a one-unit increase in television advertising expenditure.
O In part (a) it represents the change in revenue due to a one-unit increase in television advertising expenditure. In part (b) it represents the change in revenue due to a one-unit Increase in television advertising with newspaper advertising held constant.
(d) Predict weekly gross revenue (in dollars) for a week when $3,900 is spent on television advertising and $1,300 is spent on newspaper advertising. (Round your answer to the nearest cent.)
Transcribed Image Text:DATAfile: Showtime
A statistical program is recommended.
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
eight weeks follow.
Weekly
Television
Newspaper
Advertising
($1,000s)
Gross
Advertising
($1,000s)
Revenue
(21,000s)
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
(a) Develop an estimated regression equation with the amount of television advertising as the independent variable. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s and y represent the weekly gross revenue in
$1,000s.)
ý -
(b) Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. (Round your numerical values to two decimal places. Let x, represent the amount of television advertising in $1,000s, x, represent the amount of
newspaper advertising in $1,000s, and y represent the weekly gross revenue in $1,000s.)
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