1-20chapter stats

# 0 0820 advertising 0325 price 184 stores s 5465

This preview shows page 1. Sign up to view the full content.

This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ast year, and implementing the above stated multiple regression model, the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Interpret the estimated model coefficient b2. 1-1340 Chapter 01 - An Introduction to Business Statistics 93. The management of a professional baseball team is in the process of determining the budget for next year. A major component of future revenue is attendance at the home games. In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables. The model is of the form: y = β0 + β1x1 + β2x2 + β3x3 + ε where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables, and they are defined below. x2 = 1, if weekend x2= 0, otherwise x3= 1, if weather is favorable x3= 0, otherwise After collecting the data based on 30 games from last year, and implementing the above stated multiple regression model, the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Interpret the estimated model coefficient b3. 1-1341 Chapter 01 - An Introduction to Business Statistics 94. The management of a professional baseball team is in the process of determining the budget for next year. A major component of future revenue is attendance at the home games. In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables. The model is of the form: y = β0 + β1x1 + β2x2 + β3x3 + ε where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables, and they are defined below. x2 = 1, if weekend x2= 0, otherwise x3= 1, if weather is favorable x3= 0, otherwise After collecting the data based on 30 games from last year, and implementing the above stated multiple regression model, the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Assume that the overall model is useful in predicting the game attendance and the team statistician wants to know if the mean attendance is higher on the weekends as compared to the weekdays. State the appropriate null and alternative hypotheses. 1-1342 Chapter 01 - An Introduction to Business Statistics 95. The management of a professional baseball team is in the process of determining the budget for next year. A major component of future revenue is attendance at the home games. In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables. The model is of the form: y = β0 + β1x1 + β2x2 + β3x3 + ε where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables, and they are defined below. x2 = 1, if weekend x2= 0, otherwise x3= 1, if weather is favorable x3= 0, otherwise After collecting the data based on 30 games from last year, and implementing the above stated multiple regression model, the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Assume that the overall model is useful in predicting the game attendance and the team statistician wants to know if the mean attendance is higher on the weekends as compared to the weekdays. At α = .05, test to determine if the attendance is higher on weekend home games. 1-1343 Chapter 01 - An Introduction to Business Statistics 96. The management of a professional baseball team is in the process of determining the budget for next year. A major component of future revenue is attendance at the home games. In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables. The model is of the form: y = β0 + β1x1 + β2x2 + β3x3 + ε where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables, and they are defined below. x2 = 1, if weekend x2= 0, otherwise x3= 1, if weather is favorable x3= 0, otherwise After collecting the data based on 30 games from last year, and implementing the above stated multiple regression model, the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Assume that the overall model is useful in predicting the game attendance. Assume today is Wednesday morning and the weather forecast indicates sunny, excellent weather conditions for the rest of the day. Later today, there is a home baseball game for this team. Assume that the current power rating of the team i...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online