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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. Weekly Television Newspaper Gross Revenue Advertising Advertising ($1,000s) ($1,000s) ($1,000s) 97 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 103 3.0 3.3 94 3.5 2.3 94 2.5 4.2 105 3.0 2.5 a. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 1 decimal). Revenue = |TVAdv b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Revenue = TVAdv + NVAdv c. Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? - Select your answer - Interpret the coefficient in each case. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures with the amount of newspaper advertising held constant. d. Predict weekly gross revenue for a week when $3,500 is spent on television advertising and $2,000 is spent on newspaper advertising?

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 Television Newspaper Gross Revenue Advertising Advertising ($1,000s) ($1,000s) ($1,000s) 97 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 103 3.0 3.3 94 3.5 2.3 94 2.5 4.2 105 3.0 2.5 a. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 1 decimal). Revenue = |TVAdv b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Revenue = TVAdv + NVAdv c. Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? - Select your answer - Interpret the coefficient in each case. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures with the amount of newspaper advertising held constant. d. Predict weekly gross revenue for a week when $3,500 is spent on television advertising and $2,000 is spent on newspaper advertising?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 12PPS
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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. Weekly Television Newspaper Gross Revenue Advertising Advertising ($1,000s) ($1,000s) ($1,000s) 97 5.0 1.5 2.0 2.0 06 95 4.0 1.5 92 2.5 2.5 103 3.0 3.3 94 3.5 2.3 94 2.5 4.2 105 3.0 2.5 a. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 1 decimal). Revenue = TVAdv b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Revenue = TVAdv + NVAdv c. Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? - Select your answer - Interpret the coefficient in each case. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures. Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures In with the amount of newspaper advertising held constant. d. Predict weekly gross revenue for a week when $3,500 is spent on television advertising and $2,000 is spent on newspaper advertising? NOTE: To compute the predicted revenues, use the coefficients you have computed rounded to two decimals, as you have entered them here. Then, round your predicted revenue to the nearest dollar.
Transcribed Image Text: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 Television Newspaper Gross Revenue Advertising Advertising ($1,000s) ($1,000s) ($1,000s) 97 5.0 1.5 2.0 2.0 06 95 4.0 1.5 92 2.5 2.5 103 3.0 3.3 94 3.5 2.3 94 2.5 4.2 105 3.0 2.5 a. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 1 decimal). Revenue = TVAdv b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Revenue = TVAdv + NVAdv c. Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? - Select your answer - Interpret the coefficient in each case. In - Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures. Select your answer - :, the coefficient is an estimate of the change in revenue due to a one-unit change in television advertising expenditures In with the amount of newspaper advertising held constant. d. Predict weekly gross revenue for a week when $3,500 is spent on television advertising and $2,000 is spent on newspaper advertising? NOTE: To compute the predicted revenues, use the coefficients you have computed rounded to two decimals, as you have entered them here. Then, round your predicted revenue to the nearest dollar.
The Condé Nast Traveler Gold List provides ratings for the top 20 small cruise ships. The following data shown are the scores each ship received based upon the results from Condé Nast Traveler's annual Readers' Choice Survey. Each score represents the percentage of respondents who rated a ship as excellent or very good on several criteria, including Shore Excursions and Food/Dining. An overall score was also reported and used to rank the ships. The highest ranked ship, the Seabourn Odyssey, has an overall score of 94.4, the highest component of which is 98.0 for Food/Dining. Shore Ship Overall Excursions Food/Dining Seabourn Odyssey 94.4 90.7 98.0 Seabourn Pride 92.9 84.0 96.8 National Geographic Endeavor 93.0 99.9 88.7 Seabourn Sojourn 91.5 94.6 97.0 Paul Gauguin 90.3 87.8 91.2 Seabourn Legend 90.3 82.1 98.8 Seabourn Spirit 90.0 86.3 92.2 Silver Explorer 89.7 92.5 89.1 Silver Spirit 89.2 85.9 90.6 Seven Seas Navigator 89.2 83.1 90.6 Silver Whisperer 89.1 82.2 88.6 National Geographic Explorer 89.2 93.3 89.8 Silver Cloud 88.5 78.1 91.5 Celebrity Xpedition 87.0 91.8 73.4 Silver Shadow 87.1 74.9 89.5 Silver Wind 86.8 78.3 91.6 SeaDream II 86.0 77.2 90.7 Wind Star 86.0 76.4 91.5 Wind Surf 85.9 72.2 89.5 Wind Spirit 85.0 77.4 91.7
Transcribed Image Text:The Condé Nast Traveler Gold List provides ratings for the top 20 small cruise ships. The following data shown are the scores each ship received based upon the results from Condé Nast Traveler's annual Readers' Choice Survey. Each score represents the percentage of respondents who rated a ship as excellent or very good on several criteria, including Shore Excursions and Food/Dining. An overall score was also reported and used to rank the ships. The highest ranked ship, the Seabourn Odyssey, has an overall score of 94.4, the highest component of which is 98.0 for Food/Dining. Shore Ship Overall Excursions Food/Dining Seabourn Odyssey 94.4 90.7 98.0 Seabourn Pride 92.9 84.0 96.8 National Geographic Endeavor 93.0 99.9 88.7 Seabourn Sojourn 91.5 94.6 97.0 Paul Gauguin 90.3 87.8 91.2 Seabourn Legend 90.3 82.1 98.8 Seabourn Spirit 90.0 86.3 92.2 Silver Explorer 89.7 92.5 89.1 Silver Spirit 89.2 85.9 90.6 Seven Seas Navigator 89.2 83.1 90.6 Silver Whisperer 89.1 82.2 88.6 National Geographic Explorer 89.2 93.3 89.8 Silver Cloud 88.5 78.1 91.5 Celebrity Xpedition 87.0 91.8 73.4 Silver Shadow 87.1 74.9 89.5 Silver Wind 86.8 78.3 91.6 SeaDream II 86.0 77.2 90.7 Wind Star 86.0 76.4 91.5 Wind Surf 85.9 72.2 89.5 Wind Spirit 85.0 77.4 91.7
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