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. Weekly Gross Revenue ($1000s) 96 90 95 92 95 94 94 94 The estimated regression equation was Television Advertising ($1000s) 5.0 2.0 4.0 2.5 3.0 3.5 2.5 3.0 Newspaper Advertising ($1000s) 1.5 2.0 1.5 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 thousand 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). ($94.81 thousand, $ 92.35 thousand)

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. Weekly Gross Revenue ($1000s) 96 90 95 92 95 94 94 94 The estimated regression equation was Television Advertising ($1000s) 5.0 2.0 4.0 2.5 3.0 3.5 2.5 3.0 Newspaper Advertising ($1000s) 1.5 2.0 1.5 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 thousand 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). ($94.81 thousand, $ 92.35 thousand)

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section: Chapter Questions

Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...

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