It Is Believed That Number of People Who Attend a Mardi

question 64

Multiple Choice

It is believed that number of people who attend a Mardi Gras parade each year depends on the temperature that day. A regression has been conducted on a sample of years where the temperature ranged from 28 to 64 degrees and the number of people attending ranged from 8400 to 14,600. The regression equation was found to be = 2378 + 191x. Which of the following is true?

• A) The average change in parade attendance is an additional 2378 people per one-degree increase in temperature.
• B) The average change in parade attendance is an additional 191 people per one-degree increase in temperature.
• C) If the temperature is 75 degrees, we can expect that 16,703 people will attend.
• D) If the temperature is 0 degrees this year, then we should expect 2378 people to attend.

---

Definitions:

Specialization

The process of focusing efforts and resources on a narrowly defined area of expertise or activity, often resulting in increased efficiency and quality.

Market Concentration

The degree to which a small number of firms control the majority of market share in an industry.

Focused Marketing

A strategic approach where marketing efforts are intensely directed at a specific market segment or demographic, tailoring products and advertising to appeal to that group.

Institutional Markets

Markets where transactions occur between institutions such as businesses, governments, and non-profits, rather than between a business and individual consumer.