Develop an estimated regression equation with the amount of television advertising as the independent variable.
Exercise 5 gave the following data on weekly gross revenue, television advertising, and newspaper advertising for Showtime Movie Theaters.
a. Find an estimated regression equation relating weekly gross revenue to television and newspaper advertising.
b. Plot the standardized residuals against ŷ. Does the residual plot support the assumptions aboutϵ? Explain.
c. Check for any outliers in these data. What are your conclusions?
d. Are there any influential observations? Explain.
Exercise 5
The owner of Showtime Movie Theaters, Inc., would like to estimate weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow.
a. Develop an estimated regression equation with the amount of television advertising as the independent variable.
b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables.
c. 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.
d. What is the estimate of the weekly gross revenue for a week when $3500 is spent on television advertising and $1800 is spent on newspaper advertising?
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Posted 28 May 2017 11:05 AM
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