Regression Analysis - Waterskiing & Theatres
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Question 1
The owner of Showtime Movie Theatres, Inc., would like to estimate weekly gross revenue as a function of advertising expenditures.
Develop an estimated regression equation with the amount of television advertising as the independent variable. Is this equation significant?
Perform a multiple regression analysis with both television advertising and newspaper advertising as the independent variables. Provide the results in an APA formatted table(s), identify the regression equation, and state whether this model is significant.
Why is there a difference between the coefficient variable of television advertising between answers A and B?
What is the estimate of the weekly gross revenue for a week when $3500 is spent on television advertising and $1800 is spent on newspaper advertising?
Question 2
Waterskiing and wakeboarding are two popular water-sports. Finding a model that best suits your intended needs, whether it is waterskiing, wakeboarding, or general boating, can be a difficult task. WaterSki magazine did extensive testing for 88 boats and provided a wide variety of information to help consumers select the best boat. The dataset includes information on 20 boats with a length of between 20 and 22 feet. Beam is the maximum width of the boat in inches, HP is the horsepower of the boat's engine, and TopSpeed is the top speed in miles per hour (mph).
Using the data, perform a regression analysis relating the top speed with the boat's beam and horsepower rating. Complete this answer by providing the APA formatted table(s), identify the regression equation, and state whether this model is significant.
How do you know the model and variables are statistically significant?
The Svfara SV609 has a beam of 85 inches and an engine with a 330 horsepower rating. Use the estimated regression equation developed in part (a) to estimate the top speed for the Svfara SV609.
Question 3:
In regression, how do you determine if the regression equation is valid?
Question 4:
What does multicollinearity mean? How do you know it is an issue? How do you correct this to create valid regression model?
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Solution Summary
The solution provides step by step method for the calculation of regression analysis. Formula for the calculation and Interpretations of the results are also included. Attached in Word & Excel.
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