Page 1 of 1
A researcher analyzes the relationship between amusement park attendance and the price of admission. She estimates the f
Posted: Mon Jul 11, 2022 11:26 am
by answerhappygod
- A Researcher Analyzes The Relationship Between Amusement Park Attendance And The Price Of Admission She Estimates The F 1 (85.55 KiB) Viewed 25 times
A researcher analyzes the relationship between amusement park attendance and the price of admission. She estimates the following model: Attendance = Po + B₁ Price + €, where Attendance is the daily attendance (in 1,000s) and Price is the gate price (in $). A portion of the regression results is shown in the accompanying table. Regression Residual Total Intercept Price df 1 28 29 Coefficients 334.60 -3.10 SS 19,744.99 12,343.78 32,088.78 Standard Error 38.84 0.46 MS 19,744.99 440.85 t-stat 8.61 -6.69 F 44.79 p-value 2.32E-09 2.9E-07 a. Predict the Attendance for an amusement park that charges $80 for admission. b. Interpret the slope coefficient for Price. c. Calculate the standard error of the estimate. d. Calculate and interpret the coefficient of determination. How much of the variability in Attendance is unexplained?