Question

In: Statistics and Probability

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

306.2

21

289.8

18

245.1

18

163.9

17

148.9

16

147.4

15

147.3

15

123.6

14

118.1

13

108.9

13

100.1

12

90.3

11

89.1

6

70.1

6

56.2

5

41.6

3

8.4

1

The least squares regression equation is ModifyingAbove y with caret=________+ ( _______ )x. ​(Round to three decimal places as​ needed.)

PrintDone

Solutions

Expert Solution

Message Rate (X) Revenue​ ($millions) (Y) X * Y X^2
1363.2 146 199027.2 1858314.24
1219.2 79 96316.8 1486448.64
681.2 67 45640.4 464033.44
583.6 37 21593.2 340588.96
454.7 35 15914.5 206752.09
413.9 34 14072.6 171313.21
306.2 21 6430.2 93758.44
289.8 18 5216.4 83984.04
245.1 18 4411.8 60074.01
163.9 17 2786.3 26863.21
148.9 16 2382.4 22171.21
147.4 15 2211 21726.76
147.3 15 2209.5 21697.29
123.6 14 1730.4 15276.96
118.1 13 1535.3 13947.61
108.9 13 1415.7 11859.21
100.1 12 1201.2 10020.01
90.3 11 993.3 8154.09
89.1 6 534.6 7938.81
70.1 6 420.6 4914.01
56.2 5 281 3158.44
41.6 3 124.8 1730.56
8.4 1 8.4 70.56
Total 6970.8 602 426457.6 4934795.8

Equation of regression line is


b = 0.0865



a = -0.0309
Equation of regression line becomes

Equation of regression line becomes


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) 1363.3 148 1214.8 74 575.9 64 311.3 36 458.1 35 293.2 34 248.3...
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...
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?
An eye-opening exploration of how social changes such as technological advancements influence the social practices of...
An eye-opening exploration of how social changes such as technological advancements influence the social practices of individuals and nations. For example, your grandparents may have used a dial phone to contact family members and today thanks to technological advancement a majority of persons use a cordless phone or iPhone.In a three paragraph format discuss in your own words the three factors that lead to social change. Include one example of each notion from personal or professional experience in the response....
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.
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...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT