Question Description
I’m working on a statistics multi-part question and need an explanation and answer to help me learn.
A box office analyst seeks to predict opening weekend box office gross for movies. Toward this goal, the analyst plans to use YouTube trailer views as a predictor. For each of 66 movies, the YouTube trailer view count, the number of YouTube trailer views from the release of the trailer through the Saturday before a movie opens, and the opening weekend box office gross (in $millions) are collected and stored in Movie.
a. Construct a scatter plot.
b. Assuming a linear relationship, use the least-squares method to determine the regression coefficients b0 and b1.
c. Interpret the meaning of the slope, b1, in this problem.
d. Predict the mean weekend box office gross for a movie that had 20 million YouTube trailer views.
e. What conclusions can you reach about predicting weekend box office gross from YouTube trailer views?
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