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All Textbook Solutions for Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
15.3.6CP15.3.7CP1E2E3E4EThe 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 Develop an estimated regression equation with the amount of television advertising as the independent variable. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? Interpret the coefficient in each case. Predict weekly gross revenue for a week when $3500 is spent on television advertising and $1800 is spent on newspaper advertising?6E7E8E9E10E11E12E13E14E15E16E17E18E19E20E21E22E23E24E25E26E27E28E29E30E31E32EConsider a regression study involving a dependent variable y, a quantitative independent variable x1 , and a categorical independent variable with three possible levels (level 1, level 2, and level 3). How many dummy variables are required to represent the categorical variable? Write a multiple regression equation relating and the categorical variable to y. Interpret the parameters in your regression equation.34E35E36E37E38E39E40E41E42E43E