Use computer software packages such as Minitab or Excel to s

Use computer software packages, such as Minitab or Excel, to solve this problem. The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 1 decimal). Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Is the estimated regression equation coefficient for television advertising expenditures the same in part (a) and in part (b)? Predict weekly gross revenue for a week when $3.5 thousand is spent on television advertising and $1.8 thousand is spent on newspaper advertising?

Solution