SCENARIO 17-4 The Regression Tree Below Was Obtained for Predicting the Weekend

question 48

Short Answer

SCENARIO 17-4
The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV.

-Referring to Scenario 17-4,what percentage of the variation in weekend box office revenue can be explained by the amount spent on TV advertising and the number of times a day the advertisement appear on TV?

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Definitions:

Performance Efficiency

The level at which an entity uses the least amount of inputs to produce the highest amount of outputs, optimizing resources and productivity.

Organizational Trends

The patterned changes or developments within organizations, often influenced by innovations, market dynamics, and cultural shifts.

Technical Skills

Practical abilities and knowledge required to perform specific tasks, especially related to operating machines, software, or instruments in various fields.

Gross Motor Skills

These are the abilities required to control the large muscles of the body for walking, jumping, balancing, and other physical activities.