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The output of a time series regression analysis using time
series data of last 15 years of earnings of the motion picture
industry measured in dollars per year are given. Use these results
to answer the following questions. How well do movie ticket sales
in December explain the level of earnings for the entire year?
Present statistical evidence to support your answer. 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 improving the current recommendation for
the motion picture industry?
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                      
0. 8311        
F-RATIO                          63.96
P-VALUE ON
F                  0.0001
OBSERVATIONS:              15
     Coefficient 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
improving the current recommendation for the motion picture
industry?

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