Business
Business, 25.12.2019 00:31, arthkk0877

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. the owner then used multiple regression analysis to predict gross revenue (y), in thousands of dollars, as a function of television advertising (x1), in thousands of dollars, and newspaper advertising (x2), in thousands of dollars. the estimated regression equation was ŷ = 83.2 + 2.29x1 + 1.30x2.

(a) what is the gross revenue (in dollars) expected for a week when $4,000 is spent on television advertising (x1 = 4) and $1,500 is spent on newspaper advertising (x2 = 1.5)? (round your answer to the nearest dollar.)

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