Question

Please open Tweets data. The data is related to Opening weekend box office revenue (in millions of dollars) for a sample of 23 movies, along with each movies tweet rate (in thousands). Tweet rate is defined as the average number of tweets (at twitter.com) referring to the movie per hour 1, one week prior to the movie's release. Suppose that a film production company in Hollywood collected this data and they request you to analyze data with following steps: 1. Draw a scatterplot of data, do you observe a relationship between tweet rate and revenue? 2. The company wonders about the effect of tweet rate on revenue and you decided to make a regression analysis. a. Which attribute is dependent variable (tweet rate or revenue) and why? b. Write the regression equation and interpret. c. Specify the coefficient of determination and interpret. d. Is there any significant effect of tweet rate on revenue? Explain why. e. Please find the values of following: i. SSR, SSE, SST, MSE, MSR f. Company receives 300.000 tweet rate for its new movie, what would be the estimated revenue of the movie?