The National Football League Office Discovered Data Covering Attendance at Professional

question 44

Multiple Choice

The National Football League office discovered data covering attendance at professional football games in the late 1940s and early 1950s.The game with the highest attendance was between the St.Louis Cardinals and the New York Giants.The office also found considerable information that someone had collected on each game day,such as the level of GDP,the DOW,numbers of persons employed,number of new businesses formed during the week preceding the game,and the population.A student intern took the information and built a regression model to predict game attendance for the upcoming season.The model:

• A)should accurately predict game attendance.
• B)should not predict game attendance accurately because the variable levels of today (i.e. ,population,DOW,etc. )are out of range of those used to build the regression model.
• C)should predict game attendance accurately because the variable levels of today (i.e. ,population,DOW,etc. )are out of range of those used to build the regression model.
• D)should predict game attendance accurately because the variable levels (i.e. ,population,DOW,etc. )are within range of those used to build the regression model.
• E)does not have enough information.

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Definitions:

Prices

Refers to the amount of money required to purchase goods or services.

Real GDP

An adjustment in a country's economic production figures to account for variations in price levels, either through inflation or deflation, to accurately represent the genuine worth of its goods and services.

Nominal GDP

The gross domestic product measured in current prices, without adjusting for inflation.

Base Year

A specific year against which economic growth or other economic indexes are measured, serving as a point of comparison for future or past data.