“CMC Pictures” believes that they can break the $2M gross revenue barrier in couple of years by adding “drama” genre movies to their portfolio. To that end, which of the following big guns of analysis can they use to predict their revenue at the end of two years?
- Correlation
- T-test Multiple
- Regression
- ANOVA
For the purpose of predicting revenue at the end of two years after adding drama genre movies to their portfolio, “CMC Pictures” would benefit most from using Multiple Regression. This analytical technique is specifically designed to examine the relationship between multiple independent variables and a dependent variable. Here’s why it’s suitable:
In contrast:
Therefore, multiple regression is the most comprehensive and appropriate tool for CMC Pictures to predict their revenue after expanding their portfolio to include drama genre movies.
Multiple Regression