Statistics for Business & Economics, Revised (MindTap Course List)
12th Edition
ISBN: 9781285846323
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Textbook Question
Chapter 15.6, Problem 29E
In exercise 5, the owner of Showtime Movie Theaters, Inc., used multiple
ŷ = 83.2 + 2.29x1 + 1.30x2
- a. What is the gross revenue expected for a week when $3500 is spent on television advertising (x1 = 3.5) and $1800 is spent on newspaper advertising (x2 = 1.8)?
- b. Provide a 95% confidence interval for the
mean revenue of all weeks with the expenditures listed in part (a). - c. Provide a 95% prediction interval for next week’s revenue, assuming that the advertising expenditures will be allocated as in part (a).
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The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (x 1) and newspaper advertising (x 2). The estimated regression equation was
ŷ = 87.2 + 1.39 x 1 + 0.54 x 2
Weekly Gross Revenue ($1000s)
Televison Advertising ($1000s)
Newspaper Advertising ($1000s)
97
6
2.5
91
2
2
96
5
2.5
93
2.5
3.5
95
4
4.3
94
4.5
2.3
94
3.5
4.2
94
4
2.5
The computer solution provided SST = 23.5 and SSR = 22.437.
Compute R 2 and R a 2 (to 3 decimals).
R 2
R a 2
A real estate company wants to study the relationship between house sales prices and some important predictors of sales prices. Based on data from recently
sold homes in the space, the following variables are used in a multiple regression model.
y = sales price (in thousands of dollars)
x₁ =
total floor area (in square feet)
x₂ =
number of bedrooms
x3 distance to nearest high school (in miles)
=
The estimated model is as follows.
=76+0.098x₁ +16x₂ - 8x3
Answer the questions below for the interpretation of the coefficient of X₂ in this model.
(a) Holding the other variables fixed, what is the average change in sales price for each
additional bedroom in a house?
dollars
(b) Is this change an increase or a decrease?
O increase
O decrease
X
Chapter 15 Solutions
Statistics for Business & Economics, Revised (MindTap Course List)
Ch. 15.2 - The estimated regression equation for a model...Ch. 15.2 - Consider the following data for a dependent...Ch. 15.2 - In a regression analysis involving 30...Ch. 15.2 - A shoe store developed the following estimated...Ch. 15.2 - The owner of Showtime Movie Theaters, Inc., would...Ch. 15.2 - The National Football League (NFL) records a...Ch. 15.2 - PC World rated four component characteristics for...Ch. 15.2 - The Cond Nast Traveler Gold List provides ratings...Ch. 15.2 - Waterskiing and wakeboarding are two popular...Ch. 15.2 - Prob. 10E
Ch. 15.3 - In exercise 1, the following estimated regression...Ch. 15.3 - Prob. 12ECh. 15.3 - In exercise 3, the following estimated regression...Ch. 15.3 - In exercise 4, the following estimated regression...Ch. 15.3 - In exercise 5, the owner of Showtime Movie...Ch. 15.3 - In exercise 6, data were given on the average...Ch. 15.3 - Prob. 17ECh. 15.3 - Prob. 18ECh. 15.5 - In exercise 1, the following estimated regression...Ch. 15.5 - Refer to the data presented in exercise 2. The...Ch. 15.5 - The following estimated regression equation was...Ch. 15.5 - In exercise 4, the following estimated regression...Ch. 15.5 - Prob. 23ECh. 15.5 - The Wall Street Journal conducted a study of...Ch. 15.5 - The Cond Nast Traveler Gold List for 2012 provided...Ch. 15.5 - In exercise 10, data showing the values of several...Ch. 15.6 - In exercise 1, the following estimated regression...Ch. 15.6 - Refer to the data in exercise 2. The estimated...Ch. 15.6 - In exercise 5, the owner of Showtime Movie...Ch. 15.6 - Prob. 30ECh. 15.6 - The American Association of Individual Investors...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Management proposed the following regression model...Ch. 15.7 - Refer to the Johnson Filtration problem introduced...Ch. 15.7 - This problem is an extension of the situation...Ch. 15.7 - The Consumer Reports Restaurant Customer...Ch. 15.7 - A 10-year study conducted by the American Heart...Ch. 15.8 - Data for two variables, x and y, follow. xi 1 2 3...Ch. 15.8 - Data for two variables, x and y, follow. xi 22 24...Ch. 15.8 - Exercise 5 gave the following data on weekly gross...Ch. 15.8 - The following data show the curb weight,...Ch. 15.8 - Prob. 43ECh. 15.9 - Refer to the Simmons Stores example introduced in...Ch. 15.9 - In Table 15.12 we provided estimates of the...Ch. 15.9 - Community Bank would like to increase the number...Ch. 15.9 - Over the past few years the percentage of students...Ch. 15.9 - The Tire Rack maintains an independent consumer...Ch. 15 - The admissions officer for Clearwater College...Ch. 15 - The personnel director for Electronics Associates...Ch. 15 - A partial computer output from a regression...Ch. 15 - Recall that in exercise 49, the admissions officer...Ch. 15 - Recall that in exercise 50 the personnel director...Ch. 15 - The Tire Rack, Americas leading online distributor...Ch. 15 - The Department of Energy and the U.S....Ch. 15 - A portion of a data set containing information for...Ch. 15 - Fortune magazine publishes an annual list of the...Ch. 15 - Consumer Research, Inc., is an independent agency...Ch. 15 - Matt Kenseth won the 2012 Daytona 500, the most...Ch. 15 - Finding the Best Car Value When trying to decide...
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