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the rule for maximization set forth in the text contradicts some honored traditional principles such as ‘never give up’ . Anything worth doing is worth doing well, or waste not, want not’ explain the contradiction for each of these rules.
A security analyst specializing in the stocks of the motion picture industry wishes to ex¬amine the relation between the number of movie theater tickets sold in December and the annual level of earnings in the motion picture industry Time-series data for the last 15 years are used to estimate the regression model E = a + bN; where E is total earnings of the motion picture industry measured in dollars per year and N is the number of tickets sold in December. The regression output is as follows
DEPENDENT VARIABLE: E R - SQUARE F-RATIO P-VALUE ON F
OBSERVATIONS: 15 0.8311 63.96 0.0001
PARAMETER STANDARD
VARIABLE ESTIMATE ERROR T- RATIO P – VALUE
INTERCEPT 25042000.0 20131000.0 1.24 0.2369
32.31 8.54 3.78 0.0023
:
a. How well do movie ticket sales in December explain the level of earnings for the entire year? Present statistical evidence to support your answer.
b. On average, what effect does a 100,000-ticket increase in December sales have on the annual earnings in the movie industry?
c. Sales of movie tickets in December are expected to be approximately 950,000. According to this regression analysis, what do you expect earnings for the year to be?
A security analyst specializing in the stocks of the motion picture industry wishes to ex¬amine the relation between the number of movie theater tickets sold in December and the annual level of earnings in the motion picture industry Time-series data for the last 15 years are used to estimate the regression model E = a + bN; where E is total earnings of the motion picture industry measured in dollars per year and N is the number of tickets sold in December. The regression output is as follows
DEPENDENT VARIABLE: E R - SQUARE F-RATIO P-VALUE ON F
OBSERVATIONS: 15 0.8311 63.96 0.0001
PARAMETER STANDARD
VARIABLE ESTIMATE ERROR T- RATIO P – VALUE
INTERCEPT 25042000.0 20131000.0 1.24 0.2369
32.31 8.54 3.78 0.0023
:
a. How well do movie ticket sales in December explain the level of earnings for the entire year? Present statistical evidence to support your answer.
b. On average, what effect does a 100,000-ticket increase in December sales have on the annual earnings in the movie industry?
c. Sales of movie tickets in December are expected to be approximately 950,000. According to this regression analysis, what do you expect earnings for the year to be?
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