Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Chapter 7, Problem 9P
Dixie Showtime Movie Theaters, Inc., owns and operates a chain of cinemas in several markets in the southern United States. The owners would like to estimate weekly gross revenue as a
- a. Develop an estimated regression equation with the amount of television advertising as the independent variable. Test for a significant relationship between television advertising and weekly gross revenue at the 0.05 level of significance. What is the interpretation of this relationship?
- b. How much of the variation in the sample values of weekly gross revenue does the model in part (a) explain?
- c. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Test whether each of the regression parameters β0, β1, and β2 is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable?
- d. How much of the variation in the sample values of weekly gross revenue does the model in part (c) explain?
- e. Given the results in parts (a) and (c), what should your next step be? Explain.
- f. What are the managerial implications of these results?
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9.2 Testing the Mean mu:
Problem 3
(1 point)
Test the claim that the population of sophomore college
students has a mean grade point average greater than 2.2.
Sample statistics include n = 71, x = 2.44, and s = 0.9.
Use a significance level of a = 0.01.
The test statistic is
The P-Value is between :
The final conclusion is
< P-value <
A. There is sufficient evidence to support the claim that
the mean grade point average is greater than 2.2.
○ B. There is not sufficient evidence to support the claim
that the mean grade point average is greater than 2.2.
Note: You can earn partial credit on this problem.
Note: You are in the Reduced Scoring Period. All work counts for
50% of the original.
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Chapter 7 Solutions
Essentials of Business Analytics (MindTap Course List)
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