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 Newspaper Advertising 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 (x₁), in thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x₁ + 1.30x2. (a) What is the gross revenue (in dollars) expected for a week when $2,500 is spent on television advertising (x₁ = 2.5) and $4,200 is spent on newspaper advertising (x2 = 4.2)? (Round your answer to the nearest dollar.) $ 94385

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 Newspaper Advertising 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 (x₁), in thousands of dollars, and newspaper advertising (x2), in thousands of dollars. The estimated regression equation was ŷ = 83.2 + 2.29x₁ + 1.30x2. (a) What is the gross revenue (in dollars) expected for a week when $2,500 is spent on television advertising (x₁ = 2.5) and $4,200 is spent on newspaper advertising (x2 = 4.2)? (Round your answer to the nearest dollar.) $ 94385

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section: Chapter Questions

Problem 8SGR

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