Exercise 5 gave the following data on weekly gross revenue, television advertising, and newspaper advertising for Showtime Movie Theaters.

a. Find an estimated regression equation relating weekly gross revenue to television and newspaper advertising.
b. Plot the standardized residuals against y-bar. Does the residual plot support the assumptions about ε? Explain.
c. Check for any outliers in these data. What are your conclusions?
d. Are there any influential observations? Explain.

Transcribed Image Text:

Newspaper Advertising ($1000s) 1.5 2.0 1.5 2.5 3.3 2.3 4.2 2.5 Weekly Gross Revenue (S1000s) Television Advertising ($1000s) 5.0 2.0 4.0 2.5 3.0 3.5 2.5 3.0 96 90 95 95 94 94 94