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The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. My UHart i University of Han Weekly Gross Revenue Television Advertising ($1,000s) Newspaper Advertising ($1,000s) ($1,000s) 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 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), In thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x, + 1.30x2.

The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. My UHart i University of Han Weekly Gross Revenue Television Advertising ($1,000s) Newspaper Advertising ($1,000s) ($1,000s) 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 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), In thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x, + 1.30x2.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 23PPS
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My UHart | University of Hartford The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Weekly Gross Revenue ($1,000s) Television Advertising ($1,000s) Newspaper Advertising ($1,000s) 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 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), in thousands of dollars, and newspaper advertising (x,), in thousands of dollars. The estimated regression equation was = 83.2 + 2.29x, + 1.30x2. (a) What is the gross revenue (in dollars) expected for a week when $3,000 is spent on television advertising (x, = 3) and $3,300 is spent on newspaper advertising (x, = 3.3)? (Round your answer to the nearest dollar.) %$4 (b) Provide a 95% confidence interval (in dollars) for the mean revenue of all weeks with the expenditures listed in part (a). (Round your answers to the nearest dollar.) to $ (c) Provide a 95% prediction interval (in dollars) for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a). (Round your answers to the nearest dollar.)
Transcribed Image Text:My UHart | University of Hartford The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Weekly Gross Revenue ($1,000s) Television Advertising ($1,000s) Newspaper Advertising ($1,000s) 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 The owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x,), in thousands of dollars, and newspaper advertising (x,), in thousands of dollars. The estimated regression equation was = 83.2 + 2.29x, + 1.30x2. (a) What is the gross revenue (in dollars) expected for a week when $3,000 is spent on television advertising (x, = 3) and $3,300 is spent on newspaper advertising (x, = 3.3)? (Round your answer to the nearest dollar.) %$4 (b) Provide a 95% confidence interval (in dollars) for the mean revenue of all weeks with the expenditures listed in part (a). (Round your answers to the nearest dollar.) to $ (c) Provide a 95% prediction interval (in dollars) for next week's revenue, assuming that the advertising expenditures will be allocated as in part (a). (Round your answers to the nearest dollar.)
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