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D Question 10 15 pts A company that holds the DVD distribution rights to movies previously released only in theatres has the business objective of developing estimates of the sales revenue of DVDs. Towards this goal, a company analyst plans to use box office gross to predict DVD sales revenue. For 22 movies, the analyst collects the box office gross (in $millions) in the year that they were released and DVD revenue (in $millions) in the following year. The data are stored in DVD Revenue.xlsx For these data, assuming all the conditions and assumptions for inference are satisfied: a) Construct a scatterplot. 1) Write down the explanatory variable and response variable NOTE: Copy and paste the following wordings (highlighted in yellow) into the section below as is appropriate. Use only the highlighted wordings. Do not add any extra space or symbol when copying and pasting into the text box. Gross DVD Revenue Explanatory variable = DVD Revenue Response variable = Gross ii) Write down the correlation coefficient and coefficient of determination Correlation coefficient - (round answer to 2 decimal places. Please use a zero (0) before the decimal point] Coefficient of determination - [round answer to 4 decimal places. Please use a zero (0) before the decimal point] b) Seeing such a low coefficient of determination value, I immediately wonder why? Maybe there is an outlier in the dataset? However, it was assumed that all the conditions and assumptions for inference are satisfied - so what could be the reason? Maybe a typing error! After carefully examining the dataset, I find a typing mistake. Instead of typing 53.12 million, the Momma Mia DVD revenue was accidently typed as 3.12 million. Correct the value in the dataset and make a scatterplot again. Determine the coefficient of determination and interpret its meaning
search Correct the value in the dataset and make a scatterplot again. Determine the coefficient of determination and interpret its meaning Coefficient of determination- [round answer to 4 decimal places. Please use a zero (0) before the decimal point) % of the variation in DVD revenue can be explained by the variation in box office gross. [round answer to 2 decimal places) c) Determine the regression coefficients b0 and b1. fround answers to 4 decimal places. Please use a zero (0) before the decimal point of b1] b0- 7.109 b1 0.45 d) Interpret the meaning of the slope in this problem. For each increase of 1 million dollars of box office gross, the predicted DVD revenue is estimated to million fround answer to 4 decimal places. Please use a zero (0) increase by $ before the decimal point] e) Predict the sales revenue for a movie DVD that had a box office gross of $75 million. Predicted DVD Revenue - $ million (round answer to 2 decimal places) f) At 5% level of significance, is there evidence of a linear relationship between box office gross and DVD revenue? NOTE: Copy and paste the following wordings (highlighted in yellow) into the section below as is appropriate. Use only the highlighted wordings. Do not add any extra space or symbol when copying and pasting into the text box 1. Hypotheses: 61-0-81-0 - B1-0 - no linear relationship - b1=0- a linear relationship Ho: 01-0 (There is no linear relationshi between box office gross and DVD revenue.) HA: $1.0 (There is linear relationship between box office gross and DVD revenue.)
Ho pro There is a rea between box orice gross and DVD revenue.) HA: 01-0 (There is near relationship between box office gross and DVD revenue.) 2. Test statistic: t= [round answer to 4 decimal places) P-value p-value- [round answer to 1 decimal place. Please use a zero (0) before the decimal point] R² 0.61 [round answer to 4 decimal places. Please use a zero (0) before the decimal point] 3. Decision rule: less than greater than reject HO - fail to reject HO- very good good excellent - weak ► . . Since p-value is 5% level of significance, therefore we • The R² suggests that the fit of linear regression model is 4. Conclusion: no evidence- strong evidence Based on the sample and at 5% level of significance, there is of a linear relationship between box office gross and DVD revenue. 8) Construct and interpret 95% and 98% confidence interval estimates of the population slope of the true relationship. [round ALL answers to 4 decimal places. Please use a zero (0) before the decimal point] 95% confidence interval estimate of the population slope - (S million, $ million) For each increase of 1 million dollars of box office gross, we are 95% confident that the DVD revenue is estimated to increase by between S million and S
ments cordings m 1/take/questions/746040 • The R² suggests that the fit of linear regression model is 4. Conclusion: no evidence- strong evidence of a linear Based on the sample and at 5% level of significance, there is relationship between box office gross and DVD revenue. g) Construct and interpret 95% and 98% confidence interval estimates of the population slope of the true relationship. fround ALL answers to 4 decimal places. Please use a zero (0) before the decimal point] 95% confidence interval estimate of the population slope-($ million, $ million) For each increase of 1 million dollars of box office gross, we are 95% confident that the DVD revenue is estimated to increase by between $ million and S million. 98% confidence interval estimate of the population slope - (S million, $ million) For each increase of 1 million dollars of box office gross, we are 98% confident that the DVD revenue is estimated to increase by between $ million and S million. Next Previous
Title Bolt Madagascar: Escape 2 Africa Quantum of Solace Beverly Hills Chihuahua Marley and Me High School Musical 3 Senior Year Bedtime Stories Role Models Pineapple Express Eagle Eye Momma Mia! Seven Pounds Saw V The Curious Case of Benjamin Button Max Payne Body of Lies Nights in Rodanthe Lakeview Terrace The Spirit DVD Revenue (Smillions) Gross (Smillions) 62.60 109.92 67.34 147.02 136.82 60.21 93.78 106.66 58.81 90.22 48.79 85.54 38.78 66.70 44.67 87.34 54.88 101.40 31.05 33.26 3.12 144.13 27.12 60.15 28.16 46.69 26.43 60,73 26.10 56.75 42.04 79.30 25.03 40.68 21.45 39.32 17.51 41.80 21.08 39.26 18.78 19.74