A Researcher Analyzes the Factors That May Influence Amusement Park

question 63

Multiple Choice

A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁Price + β₂Rides + ε, where Attendance is the daily attendance (in 1,000s) , Price is the gate price (in $) , and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price* = Price - 85 and Rides* = Rides - 30. A portion of the regression results is shown in the accompanying table. According to the modified model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively?

• A) 25,670
• B) 34,410
• C) 40,910
• D) 55,600

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Definitions:

Personal-Selling Process

a direct marketing approach where salespersons use personal contact with potential buyers to understand their needs and offer solutions in the form of products or services.

Customer Satisfaction

A state that is achieved when companies meet the needs and expectations customers have for their goods or services.

Long-Term Sales

Sales strategies focused on achieving sustained revenue growth over an extended period rather than immediate gains.

Needs

States of felt deprivation. Consumers feel that deprivation when they lack something useful or desirable like food, clothing, shelter, transportation, or safety.