The owner of Showtime Movie Theaters, Inc., would like topredict weekly gross revenue as a function of advertisingexpenditures. Historical data for a sample of eight weeksfollow.
Weekly
Gross
Revenue
($1,000s) | Television
Advertising
($1,000s) | Newspaper
Advertising
($1,000s) |
|---|
| 96 | 5.0 | 1.5 |
| 90 | 2.0 | 2.0 |
| 95 | 4.0 | 1.5 |
| 92 | 2.5 | 2.5 |
| 95 | 3.0 | 3.3 |
| 94 | 3.5 | 2.3 |
| 94 | 2.5 | 4.2 |
| 94 | 3.0 | 2.5 |
(a)
Develop an estimated regression equation with the amount oftelevision advertising as the independent variable. (Round yournumerical values to two decimal places. Let x1represent the amount of television advertising in $1,000s andy represent the weekly gross revenue in $1,000s.)
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(b)
Develop an estimated regression equation with both televisionadvertising and newspaper advertising as the independent variables.(Round your numerical values to two decimal places. Letx1 represent the amount of televisionadvertising in $1,000s, x2 represent the amountof newspaper advertising in $1,000s, and y represent theweekly gross revenue in $1,000s.)
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