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 |
- What is the independent variable (X) in this question?
- What is the dependent variable (Y) in this question?
- Create a scatter plot of the X and Y variables.
- What is the Y intercept when X = 0?
- What is the slope?
- What is the correlation between the X and Y variables as measured by the R Square? How strong is this correlation?
- Predict the mean receipts for a movie that has a Twitter activity of 100,000.
- 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
orchestra answered 1 year agoRelated Solutions
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...
A box office analyst seeks to predict opening weekend box office gross for movies. Toward this...
A box office analyst seeks to predict opening weekend box office
gross for movies. Toward this goal, the analyst plans to use
online trailer views as a predictor. For each of the 66 movies,
the number of online trailer views from the release of the trailer
through the Saturday before a movie opens and the opening weekend
box office gross (in millions of dollars) are collected and
stored in the accompanying table. A linear regression was performed
on these data,...
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)?
Write a null and alternative hypothesis statement
What is the R-squared value and interpret its meaning?
What is the correlation coefficient and interpret its
meaning?
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...
Below are the U.S. box office gross sales for the first 6 weekends. Weekend 1 2...
Below are the U.S. box office gross sales for the first 6
weekends.
Weekend
1
2
3
4
5
6
U.S. Box Office Gross (in millions of $)
202.87
100.06
44.44
26.87
30.56
33.79
a. Determine the exponential regression equation that models the
U.S. Box Office Gross (in millions), G, in terms of the number of
weekends since it has been released, t. Write your answer in Q form
here (round numbers to four decimal
places)
G=()t
b. Determine the...
Title Year Released U.S. Box Office Receipts (Inflation Adjusted Millions $) Rating Genre Budget (Non-Inflation Adjusted...
Title
Year Released
U.S. Box Office Receipts (Inflation Adjusted Millions $)
Rating
Genre
Budget (Non-Inflation Adjusted Millions $)
World Box Office Receipts (Non-Inflation Adjusted Millions
$)
U.S. Box Office Receipts (Non-Inflation Adjusted Millions
$)
Gone With the Wind
1939
$1,650
G
Drama
$3
$391
$199
Star Wars
1977
$1,426
PG
SciFi/Fantasy
$11
$798
$461
The Sound of Music
1965
$1,145
G
Musical
--
$163
$163
E.T.
1982
$1,132
PG
SciFi/Fantasy
--
$757
$435
Titanic
1997
$1,096
PG-13
Drama
$200
$2,185...
At the local cinema, you notice that there is a box office at the entrance where...
At the local cinema, you notice that there is a box office at
the entrance where the cashier receives cash from customers and,
with a press of a button, a machine ejects serially numbered
tickets. To enter the movie theatre, a customer must present his or
her ticket to the door attendant. The attendant tears the ticket in
half and returns the stub to the customer. The other half of the
ticket is dropped into a locked box.
Required
Identify...
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