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A security analyst specializing in the stocks of the motion
picture industry 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

VARIABLE

PARAMETER  ESTIMATE

STANDARD ERROR

T-RATIO

P-VALUE

INTERCEPT

25042000.00

20131000.00

1.24

0.2369

N

32.31

8.54

3.78

0.0023

How well do movie ticket sales in December explain the level of
earnings for the entire year? Present statistical evidence to
support your answer. Also, 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? Prior to
this analysis, the estimates for earnings in December are $48
million. Is this evidence strong enough for you to consider a
improving the current recommendation for the motion picture
industry? Explain.

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