Question

In: Statistics and Probability

Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3...

Movie

Twitter Activity

Receipts

The Devil Inside

219509

14763

The Dictator

6405

5796

Paranormal Activity 3

165128

15829

The Hunger Games

579288

36871

Bridesmaids

6564

8995

Red Tails

11104

7477

Act of Valor

9152

8054

  1. What is the independent variable (X) and what is the dependent variable (y)?
  2. Write a null and alternative hypothesis statement
  3. What is the R-squared value and interpret its meaning?
  4. What is the correlation coefficient and interpret its meaning?

Solutions

Expert Solution

a)

Independent variable (x) = Twitter Activity

Dependent variable (y) = Reciepts

b)

Null hypotheses: There is no relation between Twitter activity and Receipts

Alternate hypotheses: There is a relation between Twitter activity and Receipts

c)

R-squared value = 0.9879^2 = 0.9759

Since, the R-squared value is positive and almost 1 means that the linear model fits well for this set of observations

d) Correlation Coefficient = r = 0.9879

Correlation coefficient is closer to 1. So, there is a strong positive correlation between twitter activity and the receipts.


Related Solutions

Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3 165128 15829 The Hunger Games 579288 36871 Bridesmaids 6564 8995 Red Tails 11104 7477 Act of Valor 9152 8054 What is the independent variable (X) and what is the dependent variable (y) Write a null and alternative hypothesis statement What is the R-squared value and interpret it’s meaning? What is the correlation coefficient and interpret it’s meaning? Predict the receipts for a movie that...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3 165128 15829 The Hunger Games 579288 36871 Bridesmaids 6564 8995 Red Tails 11104 7477 Act of Valor 9152 8054 What is the independent variable (X) and what is the dependent variable (y) Write a null and alternative hypothesis statement What is the R-squared value and interpret it’s meaning? What is the correlation coefficient and interpret it’s meaning? Predict the receipts for a movie that...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3 165128 15829 The Hunger Games 579288 36871 Bridesmaids 6564 8995 Red Tails 11104 7477 Act of Valor 9152 8054 What is the independent variable (X) and what is the dependent variable (y) Write a null and alternative hypothesis statement What is the R-squared value and interpret it’s meaning? What is the correlation coefficient and interpret it’s meaning? Predict the receipts for a movie that...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3...
Movie Twitter Activity Receipts The Devil Inside 219509 14763 The Dictator 6405 5796 Paranormal Activity 3 165128 15829 The Hunger Games 579288 36871 Bridesmaids 6564 8995 Red Tails 11104 7477 Act of Valor 9152 8054 What is the independent variable (X) and what is the dependent variable (y) B. Write a null and alternative hypothesis statement C. What is the R-squared value and interpret it’s meaning? D. What is the correlation coefficient and interpret it’s meaning? E. Predict the receipts...
Suppose we want to use Twitter activity to predict box office receipts on the opening weekend...
Suppose we want to use Twitter activity to predict box office receipts on the opening weekend for movies. Assuming a linear relationship, the Excel output for this regression model is given below.                                    Excel output: SUMMARY OUTPUT Regression Statistics Multiple R 0.9879 R Square 0.9760 Adjusted R Square 0.9712 Standard Error 1830.236 Observations 7 ANOVA df SS MS F Significance F Regression 1 6.81E+08 6.81E+08 203.153 3.06E-05 Residual 5 16748821 3349764 Total 6 6.97E+08 Coefficients Standard Error t Stat P-value...
Can you use Twitter activity to forecast box office receipts on the opening weekend? The following...
Can you use Twitter activity to forecast box office receipts on the opening weekend? The following data (stored in TwitterMovies indicate the Twitter activity (“want to see” and the receipts ($) per theater on the weekend a movie opened for seven movies. Solve this problem to two significant digits. Movie Twitter Activity Receipts ($) The Devil Inside 219,509 14,763 The Dictator 6,405 5,796 Paranormal Activity 3 165,128 15,829 The Hunger Games 579,288 36,871 Bridesmaids 6,564 8,995 Red Tails 11,104 7,477...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT