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[Solved] Jean Siskel is an entertainment analyst for West Coast Securities. He is trying to develop a model to estimate gross earning generated by a new

Question: Jean Siskel is an entertainment analyst for West Coast Securities. He is trying to develop a model to estimate gross earning generated by a new movie release.  He has collected the following data on 20 movies: Gross Earnings, Production Costs, Promotion Costs, and if the movie is based on a bestseller novel:

Gross Earnings Production Cost Promotion Cost
Movie Millions $ Millions $ Millions $ Novel
1 28 4.2 1 0
2 35 6 3 1
3 50 5.5 6 1
4 20 3.3 1 0
5 75 12.5 11 1
6 60 9.6 8 1
7 15 2.5 0.5 0
8 72 10 12 1
9 45 6.4 8 1
10 37 7.5 5 0
11 30 5.0 1 1
12 63 10.1 10 0
13 58 7.8 9 1
14 50 6.9 10 0
15 24 3.5 4 0
16 82 11.0 15 1
17 48 10.7 1 1
18 34 6.6 2 0
19 50 8.4 3 1
20 45 10.8 5 0
  1. What type of variable is novel?
  2. What is the estimated multiple linear regression equation derived from this data?
  3. What are the regression coefficients for each X variable?  Interpret the regression coefficient.
  4. Will Jean be pleased with the results?
  5. Interpret the intercept value.

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Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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