Question

Many movies are released each year and it would be interesting to be able to predict the Total Gross Revenues (in $1,000,000) from the box office based on a few predictors. The following predictors have been identified for 70 movies:

• BUDGET: Estimated budget in $1,000,000
• LENGTH: The length of each movie in minutes
• SCREENS: Number of Screens on Opening Weekend
• AWARDS: Number of Award nominations of entire cast in their careers
• GENRE: Type of movie: Action, Comedy or Drama recoded as Genre 1 and Genre 2
  • Genre1 = 1 if Action, 0 if not
  • Genre2 = 1 if Comedy, 0 if not

                       

The following partial output has been obtained:

	Coefficients	Standard Error	t Stat
Intercept	-4.039	30.735
Budget	0.803	0.154
Length	-0.433	0.242
Screens	0.013	0.005
Awards	1.390	1.049
Genre 1	4.777	2.032
Genre 2	2.732	13.646

ANOVA
	df	SS	MS	F
Regression			39.5
Residual		170.2
Total

Based on the above partial printout, answer the following questions:

1. What is the regression model?
2. Interpret the following coefficients: -0.433 and 4.777.
3. Is there sufficient evidence at the 5% level of significance to conclude that the model is useful at predicting Total Gross Revenues?
4. Determine the adjusted coefficient of determination and explain its meaning in the context of the problem.
5. What is the standard error of the estimate?
6. Does the “genre” of movie have a significant impact (at 5%) on the Total Gross Revenues? Justify.
7. Estimate the Total Gross Revenues for a Drama movie of 90 minutes produced with a $25,000,000 budget with a cast of actors who were nominated 6 times for awards. In addition, that movie was shown on 2,000 screens in the first weekend.

Answer 1

쏴鬧 g.ven techta.Tevcucing nmu Movie Sore Rdw Revenuey G,oso, ecb) Anova fable,- Gives kt1-1 İTotel nan bu·fparame hr Tota! |Residual J-n-『:10-1-63. otal 31+10. 4012

2 beo hat C-4 039 803 0-24 63.1 O 613 O oos 63. 39 t 041 03 13、646 132ro기 la .296237 | 6.1g 9933 enrol a 130-13, 646 0200 296わ FINCo0S.6132 (0.925.63) ANOVA df MS A37 ty. 62163 63 2-

atve b eSpon ce mcon deese剥4S .Hu9w( nu. (aespon) L19/万 tut ğ Here.ro.U33) indicats l-4.b39 IL瓜tnt) a otajı be tot : lt Gen1(1-1 ц.mmdilad Hrve

Fu 62 l03 vamut context of /o pso bum.tr # cun )t mouw in pected by chance Glone y 2216 43617

pad 讧1LY thn alpla:0ος.twu+ w( Rufest tto We can Con clude Gevxe u la) ¿times for awards in addihon tr nori . Jho oe nomina .732 o)