Question: A simpler model. In the multiple regression analysis using all three variables, opening-weekend theater count, Theaters, appears to be the least helpful (given that the
A simpler model. In the multiple regression analysis using all three variables, opening-weekend theater count, Theaters, appears to be the least helpful (given that the other two explanatory variables are in the model). Do a new analysis using only the movie’s budget and opening-weekend revenue. Give the estimated regression equation for this analysis and compare it with the analysis using all three explanatory variables. Summarize the inference results for the coefficients. Explain carefully to someone who knows no statistics why the conclusions about budget here and in Figure 11.11 differ.
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