Question

In: Statistics and Probability

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

Act of Valor

9,152

8,054
  1. What is the independent variable (X) in this question?
  2. What is the dependent variable (Y) in this question?
  3. Create a scatter plot of the X and Y variables.
  4. What is the Y intercept when X = 0?
  5. What is the slope?
  6. What is the correlation between the X and Y variables as measured by the R Square? How strong is this correlation?
  7. Predict the mean receipts for a movie that has a Twitter activity of 100,000.
  8. Should you use the model to predict the receipts for a movie that has a Twitter activity of 1,000,000? Why or why not?

Solutions

Expert Solution

orchestra answered 1 year ago
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