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. ![A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β<sub>0</sub> + β<sub>1</sub>Price + β<sub>2</sub>Rides + 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 a 95% prediction interval for Attendance when Price and Rides equal $85 and 30, respectively? (Note that t<sub>0.025,27</sub> = 2.052.) A) [12,740, 56,080] B) [16,330, 53,450] C) [26,080, 42,740] D) [28,900, 41,500]](https://d2lvgg3v3hfg70.cloudfront.net/TB6618/11ea8309_a96d_058b_b223_93d8e0650350_TB6618_00.jpg)
![A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β<sub>0</sub> + β<sub>1</sub>Price + β<sub>2</sub>Rides + 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 a 95% prediction interval for Attendance when Price and Rides equal $85 and 30, respectively? (Note that t<sub>0.025,27</sub> = 2.052.) A) [12,740, 56,080] B) [16,330, 53,450] C) [26,080, 42,740] D) [28,900, 41,500]](https://d2lvgg3v3hfg70.cloudfront.net/TB6618/11ea8309_a96d_2c9c_b223_e943fadf84c1_TB6618_00.jpg)
According to the modified model, which of the following is a 95% prediction interval for Attendance when Price and Rides equal $85 and 30, respectively? (Note that t0.025,27 = 2.052.)
Definitions:
Contra Account
A type of account used in accounting to reduce the value of a related account, creating a net balance that reflects the correct value of the asset or liability.
Cash Flow Problems
Situations where a business struggles to manage the timing and amounts of cash inflows and outflows, affecting its ability to meet financial obligations.
Federal Regulations
Laws established by federal agencies that dictate the conduct of individuals, businesses, and other entities.
Net Income
The total revenue minus total expenses, representing the profit or loss over a specific period.
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