The Management of a Professional Baseball Team Is in the Process

question 49

Essay

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:

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Definitions:

OD

Organizational Development, a field focused on interventions in the work processes and structures of an organization with the aim of improving its effectiveness and health.

Supervisors

Individuals in an organization responsible for overseeing the work of others and ensuring tasks are completed effectively.

Interpersonal Processes

The dynamic ways in which individuals interact and communicate with each other.

TQM

Total Quality Management, a management approach focused on continuous improvement of processes in organizations, emphasizing quality and customer satisfaction.