Answered: 93.585 thousand b. Provide a 95%…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 6PPS

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Transcribed Image Text:The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (1) and newspaper advertising (2). Values of y, ₁, and 2 are expressed in thousands of dollars. Click on the datafile logo to reference the data. DATA file The estimated regression equation was Weekly Gross thousand Television Advertising ($1000s) ($1000s) 96 5.0 90 2.0 111 95 4.0 1.5 92 2.5 95 3.0 3.5 2.5 3.0 Revenue 94 94 Newspaper 94 Advertising ($1000s) 1.5 2.0 2.5 3.3 2.3 4.2 2.5 ŷ = 83.23 +2.29x1 + 1.30x2 a. What is the gross revenue expected for a week where $3,500 is spent on television (1 = 3.5) and $1,800 is spent on newspaper advertising (2 = 1.8) (to 3 decimals)? $ 93.585 b. Provide a 95% prediction interval for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a) (to 2 decimals). ($ thousand, $ thousand) Hint(s) Check My Work

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