Attendance at Sports Events Depends on Various Factors Where Attend Is Announced Stadium Attendance, Temperat It the Average

question 4

Essay

Attendance at sports events depends on various factors.Teams typically do not change
ticket prices from game to game to attract more spectators to less attractive games.
However, there are other marketing tools used, such as fireworks, free hats, etc., for this
purpose.You work as a consultant for a sports team, the Los Angeles Dodgers, to help
them forecast attendance, so that they can potentially devise strategies for price
discrimination.After collecting data over two years for every one of the 162 home games
of the 2000 and 2001 season, you run the following regression: $$\begin{array} { l } \widehat { \text { Attend } } = 15,005 + 201 \times \text { Temperat } + 465 \times \text { DodgNetWin } + 82 \times \text { OppNetWin } \\+ 9647 \times \text { DFSaSu } + 1328 \times \text { Drain } + 1609 \times \text { D } 150 m + 271 \times \text { DDiv } - 978 \times \text { D } 2001 ; \\R ^ { 2 } = 0.416 , S E R = 6983\end{array}$$ where Attend is announced stadium attendance, Temperat it the average temperature on
game day, DodgNetWin are the net wins of the Dodgers before the game (wins-losses),
OppNetWin is the opposing team's net wins at the end of the previous season, and
DFSaSu, Drain, D150m, Ddiv, and D2001 are binary variables, taking a value of 1 if the
game was played on a weekend, it rained during that day, the opposing team was within a
150 mile radius, the opposing team plays in the same division as the Dodgers, and the
game was played during 2001, respectively.
(a)Interpret the regression results.Do the coefficients have the expected signs?

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Definitions:

Constructive Stress

A form of stress that is perceived as manageable and can lead to growth, motivation, and improved performance.

Big Project

A large-scale undertaking that involves significant resources, planning, and effort, typically in a business or scientific context.

Discriminating

involves making distinctions or showing prejudice against certain groups based on race, gender, age, or other factors.

Compensation

Compensation is the total amount of the monetary and non-monetary pay provided to an employee for work performed, including wages, salaries, bonuses, and benefits.