The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue (y) as a function of television advertising (x1) and newspaper advertising (x2). Values of y, x1, and x2 are expressed in thousands of dollars.Weekly GrossTelevisionNewspaperRevenueAdvertisingAdvertising965.01.5902.02.0954.01.5922.52.5953.03.3943.52.3942.54.2943.02.5a. What is the gross revenue expected for a week where $3,500 is spent on television (x1 =3.5) and $1,800 is spent on newspaper advertising (x2= 1.8)(to 3 decimals)?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)

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

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section: Chapter Questions

Problem 4SGR

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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 (x1) and newspaper advertising (x2). Values of y, x1, and x2 are expressed in thousands of dollars.

Weekly Gross	Television	Newspaper
Revenue	Advertising	Advertising
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. What is the gross revenue expected for a week where $3,500 is spent on television (x1 =3.5) and $1,800 is spent on newspaper advertising (x2= 1.8)(to 3 decimals)?

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)

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