To study how social media may influence the products consumers buy, researchers collected the opening weekend...

To study how social media may influence the products consumers buy, researchers collected the opening weekend box office revenue (in millions of dollars) for 23

recent movies and the social media message rate (average number of messages referring to the movie per hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue (y) and message rate (x).

Message_Rate Revenue_($millions)
1363.3 148
1214.8 74
575.9 64
311.3 36
458.1 35
293.2 34
248.3 25
679.5 18
151.7 17
169.6 17
109.7 16
144.3 16
410.2 15
93.4 15
104.2 15
121.8 14
70.7 13
81.3 12
127.6 6
52.2 6
149.6 5
36.3 3
4.2 2

Solutions

Expert Solution

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.893045
R Square	0.797529
Adjusted R Square	0.787887
Standard Error	14.73495
Observations	23

ANOVA
	df	SS	MS	F	Significance F
Regression	1	17959.72	17959.72	82.71844	9.93E-09
Residual	21	4559.494	217.1187
Total	22	22519.22

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	2.119965	4.06647	0.521328	0.607593	-6.33672	10.57665	-6.33672	10.57665
Message_Rate	0.079935	0.008789	9.094968	9.93E-09	0.061657	0.098212	0.061657	0.098212

The least square regression line is:

y' = 2.12 + 0.0799x

Calculation:

	x	y	(x-xbar)^2	(y-ybar)^2	(x-xbar)*(y-ybar)
	1363.3	148	1124033.3	14799.251	128976.1637
	1214.8	74	831204.82	2270.7297	43444.69414
	575.9	64	74422.212	1417.6862	10271.67675
	311.3	36	67.311323	93.164461	79.18979206
	458.1	35	24026.348	74.860113	1341.124575
	293.2	34	97.923932	58.555766	-75.72325142
	248.3	25	3002.5635	1.8166352	73.85500945
	679.5	18	141680.23	69.6862	-3142.158034
	151.7	17	22920.643	87.381853	1415.220227
	169.6	17	17821.089	87.381853	1247.89414
	109.7	16	37401.878	107.0775	2001.224575
	144.3	16	25216.059	107.0775	1643.189792
	410.2	15	11471.341	128.77316	-1215.401512
	93.4	15	43972.267	128.77316	2379.589792
	104.2	15	39559.48	128.77316	2257.03327
	121.8	14	32868.113	152.46881	2238.607183
	70.7	13	54007.739	178.16446	3101.976749
	81.3	12	49193.311	205.86011	3182.285444
	127.6	6	30798.724	414.03403	3570.955009
	52.2	6	62948.628	414.03403	5105.181096
	149.6	5	23560.915	455.72968	3276.798488
	36.3	3	71179.92	545.12098	6229.098488
	4.2	2	89338.611	592.81664	7277.459357
sum	6971.2	606	2810793.4	22519.217	224679.9348
mean	303.0956522	26.34782609	sxx	syy	sxy

slope=b1=sxy/sxx	0.079934703
intercept=b0=ybar-(slope*xbar)	2.119965151
SST	SYY	22519.217
SSR	sxy^2/sxx	17959.724
SSE	syy-sxy^2/sxx	4559.4935
r^2	SSR/SST	0.7975288
error variance s^2	SSE/(n-2)	1519.8312
S^2b1	s^2/sxx	0.0005407
standard error b1=se(b1)	sqrt(s^2b1)	0.0232532
test statistics	b1/se(b1)	3.4375748

__________________________________________________________________________________

If you have any doubt please let me know through comment
Please give positive vote if you find this solution helpful. Thank you!

orchestra answered 1 year ago

Next > < Previous

Related Solutions

To study how social media may influence the products consumers buy, researchers collected the opening weekend...

To study how social media may influence the products consumers buy, researchers collected the opening weekend box office revenue (in millions of dollars) for 23 recent movies and the social media message rate (average number of messages referring to the movie per hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue (y) and message rate (x). Click the icon to view the data. Message_Rate Revenue_($millions) 1369.4 145 1217.5 76 575.9 70...

To study how social media may influence the products consumers buy, researchers collected the opening weekend...

To study how social media may influence the products consumers buy, researchers collected the opening weekend box office revenue (in millions of dollars) for 23 recent movies and the social media message rate(average number of messages referring to the movie per hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue (y) and message rate (x). Message Rate Revenue ($millions) 1363.2 146 1219.2 79 681.2 67 583.6 37 454.7 35 413.9 34...

To study how social media may influence the products consumers buy, researchers collected the opening weekend...

To study how social media may influence the products consumers buy, researchers collected the opening weekend box office revenue (in millions of dollars) for 23 recent movies and the social media message rate (average number of messages referring to the movie per hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue (y) and message rate (x). Message Rate Revenue ($millions) 1363.2 146 1219.2 79 681.2 67 583.6 37 454.7 35 413.9...

please!!!!!!!!!!!!!1 To study how social media may influence the products consumers buy, researchers collected the opening...

please!!!!!!!!!!!!!1 To study how social media may influence the products consumers buy, researchers collected the opening weekend box office revenue (in millions of dollars) for 23 recent movies and the social media message rate (average number of messages referring to the movie per hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue (y) and message rate (x). Q1: Determine the estimate of the standard deviation. s=????? Q2: What is the test...

1. How are social media sites affecting social influence?

1. How are social media sites affecting social influence?2. Why do companies sometimes target opinion leaders for marketing attention?3. Why is word of mouth so important for marketers?

Describe some of the personal and psychological factors that may influence what consumers buy and when...

Describe some of the personal and psychological factors that may influence what consumers buy and when they buy it. Are any of these factors particularly effective or ineffective on you? Explain why or why not.

Social Media Addiction. Researchers are concerned about the impact of Social Media (Facebook, Twitter, Instagram, etc.)...

Social Media Addiction. Researchers are concerned about the impact of Social Media (Facebook, Twitter, Instagram, etc.) on student’s focus. In particular, they believe that too much time spent on social media can negatively impact a student’s academic performance. The problem has gotten worse with the recent widespread use of smartphones. The first objective of the researchers is to find out, on average, how many hours per day on weekdays college students in the US spend on social media while using...

How does social media influence the health care industry? Provide examples.

Social Media and Business Businesses use social media to engage their customers and market their products...

Social Media and Business Businesses use social media to engage their customers and market their products but they don’t always get it right. An example of a social media disaster was when, in 2012, McDonald’s launched a Twitter campaign where they paid a large sum of money to promote the hashtag #McDStories They hoped customers would share positive stories of their visits to their restaurants. However, people started sharing negative reviews, the company realised that their reputation was at risk...

2. A researcher is examining the influence of social rejection on social media consumption. The researcher...

2. A researcher is examining the influence of social rejection on social media consumption. The researcher hypothesizes that people will spend more time on social media if they have been rejected (vs not rejected), consuming more social media to console themselves. User data from Instagram suggests the population of users spends an average μ = 48 minutes a day browsing Instagram with a standard deviation of σ = 20 minutes. Using survey data the researcher identified a sample of 25...

Subjects

Question

To study how social media may influence the products consumers​ buy, researchers collected the opening weekend...

Solutions

Expert Solution

Related Solutions

To study how social media may influence the products consumers buy, researchers collected the opening weekend...