Question
In: Statistics and Probability
A statistical program is recommended. You may need to use the appropriate appendix table or technology...
A statistical program is recommended. You may need to use the appropriate appendix table or technology to answer this question.
The owner of a theater 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 Advertising ($1,000s) |
Newspaper Advertising ($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 |
(a)
Find an estimated regression equation relating weekly gross revenue (in thousands of dollars) to television and newspaper advertising (in thousands of dollars). (Let x1 represent television advertising, x2 represent newspaper advertising, and y represent weekly gross revenue. Round your numerical values to two decimal places.)
ŷ =
Plot the standardized residuals against ŷ.
does the residual plot support the assumptions about ε? Explain
Solutions
orchestra answered 2 years agoRelated Solutions
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