A box office analyst seeks to predict opening weekend box office gross for movies. Toward this goal, the analyst plans to use online trailer views as a predictor. For each of the 66 movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross (in millions of dollars) are collected and stored in the accompanying table. A linear regression was performed on these data, and the result is the linear regression equation Yi=−1.259+1.4483Xi. a. Determine the coefficient of determination, r, and interpret its meaning.(Round to three decimal places as needed.)Interpret the meaning of rThe value of r indicates that% of the variation incan be explained by the variation in(Round to one decimal place as needed.)b. Determine the standard error of the estimate.Syx =(Round to two decimal places as needed.)c. How useful do you think this regression model is for predicting opening weekend box office gross?A. It is not useful for predicting box office gross because the coefficient of determination is close to 1.B. It is not useful for predicting box office gross because the coefficient of determination is close to 0.C. It is very useful for predicting box office gross because the coefficient of determination is very close to 1.D. It is somewhat useful for predicting box office gross because the coefficient of determinationcloser to 1 than it is to 0.d. Can you think of other variables that might explain the variation in opening weekend box office gross? Select all that applyA. The type of movie might explain the variation in opening weekend box office gross, since some genres are more heavily attended than others.B. The amount spent on advertising might explain the variation in opening weekend box office gross, because viewers are probably more likely to watch a movie that has been advertised heavily.C. The timing of the release of the movie might explain the variationopening weekend box office gross, because a movie released at the same time as multiple other major movies may get crowded out. Opening WeekendBox Office Gross(Smillions)Opening WeekendBox Office Gross(Smillions)Online TrailerOnline TrailerViews (millions)Views (millions)4.87257.79932.8804.59311.5957.77737.66364.3699.5400.2254.16914.1858.21021.87141.98087.59882.427105.9594.9894.69036.07161.5256.63033.37722.01119.9150.9423.7056.10512.8982.2581.5136.23145.7025.96011.32718.47039.9118.96612.2026.99523.45315.1774.35726.57813.08313.71430.4365.95260.1305.79831.23153.003149.04052.61246.6075.8498.53416.23513.00313.0328.9316.8843.77612.7503.31811.69818.2230.0441.7912.8273.4711.3781.97023.07513.6027.2065.41612.60640.0115.1157.9390.8261.3856.4743.58596.13327.5367.27320.13033.0183.4040.5094.8703.3231.2071.2488.2374.26710.9517.88817.0883.7908.34451.63651.1647.59711.6142.19329.3233.49912.91213.50119.6447.0675.1065.6079.6935.0201.98513.05511.2287.73922.80058.43743.66616.79513.68980.908177.4337.6432.080

Question

A box office analyst seeks to predict opening weekend box office gross for movies. Toward this​ goal, the analyst plans to use online trailer views as a predictor. For each of the 66 ​movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross​ (in millions of​ dollars) are collected and stored in the accompanying table. A linear regression was performed on these​ data, and the result is the linear regression equation Yi=−1.259+1.4483Xi. a. Determine the coefficient of determination, r, and interpret its meaning.(Round to three decimal places as needed.)Interpret the meaning of rThe value of r indicates that% of the variation incan be explained by the variation in(Round to one decimal place as needed.)b. Determine the standard error of the estimate.Syx =(Round to two decimal places as needed.)c. How useful do you think this regression model is for predicting opening weekend box office gross?A. It is not useful for predicting box office gross because the coefficient of determination is close to 1.B. It is not useful for predicting box office gross because the coefficient of determination is close to 0.C. It is very useful for predicting box office gross because the coefficient of determination is very close to 1.D. It is somewhat useful for predicting box office gross because the coefficient of determinationcloser to 1 than it is to 0.d. Can you think of other variables that might explain the variation in opening weekend box office gross? Select all that applyA. The type of movie might explain the variation in opening weekend box office gross, since some genres are more heavily attended than others.B. The amount spent on advertising might explain the variation in opening weekend box office gross, because viewers are probably more likely to watch a movie that has been advertised heavily.C. The timing of the release of the movie might explain the variationopening weekend box office gross, because a movie released at the same time as multiple other major movies may get crowded out. Opening WeekendBox Office Gross(Smillions)Opening WeekendBox Office Gross(Smillions)Online TrailerOnline TrailerViews (millions)Views (millions)4.87257.79932.8804.59311.5957.77737.66364.3699.5400.2254.16914.1858.21021.87141.98087.59882.427105.9594.9894.69036.07161.5256.63033.37722.01119.9150.9423.7056.10512.8982.2581.5136.23145.7025.96011.32718.47039.9118.96612.2026.99523.45315.1774.35726.57813.08313.71430.4365.95260.1305.79831.23153.003149.04052.61246.6075.8498.53416.23513.00313.0328.9316.8843.77612.7503.31811.69818.2230.0441.7912.8273.4711.3781.97023.07513.6027.2065.41612.60640.0115.1157.9390.8261.3856.4743.58596.13327.5367.27320.13033.0183.4040.5094.8703.3231.2071.2488.2374.26710.9517.88817.0883.7908.34451.63651.1647.59711.6142.19329.3233.49912.91213.50119.6447.0675.1065.6079.6935.0201.98513.05511.2287.73922.80058.43743.66616.79513.68980.908177.4337.6432.080

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