Problem
Among the factors believed to drive success are budget (expressing both the cost of the novel and the writer's fee), genre (romantic vs. non-romantic), bookstore classification ratings (general (G) vs. other grades) The familiarity of the story (whether the novel is a sequel or adapted from a known story).
• Based on the beliefs described, determine a reliable regression model in EXCEL that predicts total novel sales for book com prior to production.
(Hint: use the logarithm of the total book.com as dependent variable, see function LN in EXCEL.)
• Remove all variables that are not significant at the 10% significance level from the regression in EXCEL. The report finally came back.
• Holding all other explanatory variables in the regression constant, which novels have higher total book com sales, which are sequels, and which are not?
|
Opening book com sales
|
Total book.com sales
|
Budget
|
Known Story
|
Sequel
|
Genre
|
Classification ratings
|
Critics´ Opinion
|
|
13,337,168
|
41,507,034
|
50,625,000
|
0
|
0
|
Action
|
PG-13
|
63
|
|
11,276,814
|
40,863,943
|
25,875,000
|
0
|
0
|
Romantic
|
PG-13
|
47
|
|
16,881,305
|
57,224,964
|
45,000,000
|
0
|
0
|
Adventure
|
General
|
68
|
|
4,831,803
|
17,024,358
|
96,750,000
|
0
|
0
|
Kids & Family
|
Mature Accompanied
|
39
|
|
12,998,705
|
23,816,883
|
22,500,000
|
0
|
0
|
Drama
|
PG-13
|
63
|
|
6,252,857
|
38,590,692
|
22,500,000
|
0
|
0
|
Drama
|
General
|
69
|
|
17,798,472
|
81,717,528
|
57,375,000
|
0
|
0
|
Kids & Family
|
Mature Accompanied
|
42
|
|
31,203,063
|
78,936,719
|
45,000,000
|
0
|
1
|
Romantic
|
PG-13
|
34
|
|
9,729,365
|
64,550,156
|
112,500,000
|
0
|
0
|
Drama
|
General
|
63
|
|
12,889,522
|
92,924,739
|
95,625,000
|
1
|
0
|
Romantic
|
Mature
|
68
|
|
11,472,497
|
39,743,739
|
85,500,000
|
1
|
0
|
Military & War
|
General
|
84
|
|
45,012,786
|
154,525,087
|
92,812,500
|
0
|
0
|
Romantic
|
PG-13
|
45
|
|
16,541,331
|
65,655,855
|
56,250,000
|
1
|
0
|
Kids & Family
|
Mature
|
62
|
|
21,460,794
|
54,616,979
|
22,500,000
|
0
|
0
|
Romantic
|
PG-13
|
11
|
|
23,146,652
|
72,043,443
|
84,375,000
|
0
|
0
|
Military & War
|
PG-13
|
59
|
|
10,072,951
|
116,286,701
|
84,375,000
|
0
|
0
|
Drama
|
PG-13
|
76
|
|
22,711,698
|
91,814,136
|
45,000,000
|
1
|
0
|
Drama
|
Mature Accompanied
|
64
|
|
26,144,895
|
84,408,933
|
112,500,000
|
1
|
0
|
Action
|
Mature Accompanied
|
38
|
|
27,462,737
|
99,804,591
|
56,250,000
|
0
|
0
|
Romantic
|
PG-13
|
47
|
|
21,569,731
|
60,860,307
|
28,125,000
|
0
|
1
|
Horror
|
General
|
41
|
|
11,525,839
|
37,802,673
|
101,250,000
|
1
|
0
|
Action
|
General
|
79
|
|
6,754,746
|
14,726,959
|
67,500,000
|
0
|
0
|
Action
|
PG-13
|
47
|
|
16,216,459
|
43,236,926
|
33,750,000
|
0
|
0
|
Drama
|
PG-13
|
52
|
|
46,725,111
|
222,750,357
|
112,500,000
|
0
|
0
|
Kids & Family
|
Mature Accompanied
|
77
|
|
76,537,737
|
219,746,949
|
90,000,000
|
0
|
1
|
Kids & Family
|
Mature Accompanied
|
58
|
|
32,574,313
|
99,577,682
|
50,625,000
|
0
|
0
|
Military & War
|
General
|
76
|
|
6,403,821
|
19,492,481
|
31,500,000
|
0
|
0
|
Romantic
|
PG-13
|
29
|
|
20,299,946
|
47,570,815
|
78,750,000
|
0
|
0
|
Drama
|
PG-13
|
36
|
|
14,406,962
|
43,199,956
|
50,625,000
|
1
|
0
|
Drama
|
PG-13
|
52
|
|
24,314,823
|
65,975,684
|
72,000,000
|
0
|
0
|
Romantic
|
PG-13
|
26
|