Again, suppose you work for AMC Cinemas (a national chain of movie theaters). You try to forecast future revenue from mo

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Again Suppose You Work For Amc Cinemas A National Chain Of Movie Theaters You Try To Forecast Future Revenue From Mo 1 (49.45 KiB) Viewed 116 times

Again, suppose you work for AMC Cinemas (a national chain of movie theaters). You try to forecast future revenue from movie ticket sales based on the number of competing theaters within 15 miles, the ticket price at the nearest competitor, advertising expenditures, the local unemployment rate, and average outdoor temperature. Answer the following questions. (a) Suppose that, instead of movie ticket sales, you use the same independent variables to predict beverage sales at theaters. Would you expect a regression model for beverage sales to have a higher, lower, or similar R-square value in comparison to the regression model for movie ticket sales? Explain the reasoning behind your expectation. (6 points) (b) Suppose your hypothesis tests use a 5% significance level in all hypothesis tests. In words, interpret the literal meaning of a 5% significance level. (4 points)