Dixie showtime movie theaters, inc., owns and operates a chain of cinemas in several markets in the southern u. s. the owners would like to estimate weekly gross revenue as a function of advertising expenditures. data for a sample of eight markets for a recent week follow.
click on the webfile logo to reference the datamarket weekly gross revenue ($100s) television advertising ($100s) newspaper advertising ($100s)
mobile 101.3 5.0 1.5
shreveport 51.9 3.0 3.0
jackson 74.8 4.0 1.5
birmingham 126.2 4.3 4.3
little rock 137.8 3.6 4.0
biloxi 101.4 3.5 2.3
new orleans 237.8 5.0 8.4
baton rouge 219.6 6.9
use the data to develop an estimated regression equation with the amount of television advertising as the independent variable. let x represent the amount of television advertising.
) how much of the variation in the sample values of weekly gross revenue does the model in part (a) explain?