Question

In EXCEL: The motion picture industry is a competitive business. More than 60 studios produce
a total of 300 to 400 new motion pictures each year, and the financial success of
each motion picture varies considerably. The opening weekend gross sales ($ millions)
are often used to predict the success of a motion picture. Data collected for a
sample of 30 motion pictures is shown below.
Round and label your answers properly!
Opening Weekend Gross Sales        ($ millions)	Total Gross Sales         ($ millions)
29.16	67.25
2.14	7.64
48.74	205.27
10.90	24.47
0.05	0.22
12.40	102.00
102.69	287.18
44.11	282.88
24.11	125.88
50.34	186.21
23.45	55.80
0.32	30.00
64.63	89.68
14.00	29.00
20.02	30.04
5.26	17.08
67.42	94.61
77.06	234.20
0.02	0.41
5.62	11.01
0.20	0.24
93.50	164.61
18.07	32.04
0.16	0.16
0.06	0.84
0.08	1.22
0.02	0.48
29.63	47.31
0.05	4.36
0.25 1. Describe the Total Gross Sales data in appropriate language (4 pt)	11.23
2. Draw an appropriate chart showing the distribution of the Total Gross Sales data. (4 pt)
3.(a) Show the relationship between these two variables with an
appropriate chart. (2 pt)
(b) Develop a linear regression equation to predict the total
gross sales using the opening weekend gross sales. (1 pt)
(c) Estimate the total gross sales if the opening weekend
gross sales is $56 million. (1 pt)
(d) How much of the variability in total gross sales is
explained by the opening weekend gross sales? (1 pt)
(e) According to your regression equation, if opening weekend gross sales are zero,
what will the total gross sales be? (1 pt)
(f) According to your regression equation, for every million dollar increase in opening weekend
gross sales, the total gross sales (increases / does not change / decreases) by
_________ (2 pts) (Fill in the blank with a number.)
(g) Are the total gross sales statistically related to the opening weekend gross sales? Test at the
.05 level of significance:
	State H0 and H1. (1 pt)
	What is your pvalue? (1 pt)

Answer 1

Ans. 1 By given data we can say, Total gross sales increase Gradually with Open weekend gross sale data.

Ans. 2 The Distribution of chart is sowing by Noraml Probability Plot (Drow by Excel Using Regression ).

Ans. 3 (a). Relationsheep between Two variable

Ans. 3(b).

Linear Regression equation to predict the total gross sales using the opening weekend gross sales is given below.

, Here, Y=total gross sales, x=opening weekend gross sales

Excel Output is given Below,

(Calculate in Excel go to DATA Menu Then click on Data Analysis and Choose Regression.)

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.83762
R Square	0.70160
Adjusted R Square	0.69095
Standard Error	49.09012
Observations	30
ANOVA
	df	SS	MS	F	Significance F
Regression	1	158652.2819	158652.2819	65.83520	7.81E-09
Residual	28	67475.51426	2409.839795
Total	29	226127.7961
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	10.66709	11.68055	0.91324	0.36892	-13.25943	34.59361
Opening weekend	2.44917	0.30185	8.11389	0.00000	1.83086	3.06748

Ans. 3(C).

Total gross sales if opening weekend goss sales is $56 million is,

Y = 10.6670 + 2.4491 * 56.

Y = 147.8205.

Ans. 3 (d).

R Square value Explained variability In Regression Equation,

By Above Excel Output.

R Square = 0.70160.

70 % Variability Explained in total gross sale by opening weekend gross sales.

Ans. 3 (e).

If opening weekend gross sales are zero Then total gross sales be a 10.6670

(See Intercept parameter in Excel Output Table).

Ans. 3 (f)

For every million dollar increase in opening weekend gross sales, the total gross sales increase by 2.4491. See Open Weekend value in Excel Output Table).