121) a Marketing Manager Examines the Relationship Between the Attendance

question 103

Essay

121) A marketing manager examines the relationship between the attendance at amusement
parks and the price of admission. He estimates the following model: price , where Attendance is the average daily number of people who attend an amusement park in July (in 1,000s) and Price is the price of admission. The marketing manager would like to construct interval estimates for Attendance when Price equals $80. The researcher estimates a modified model where Attendance is the response variable and the Price is now defined as . A portion of the regression results is shown in the accompanying table.


According to the modified model, what is the point estimate for Attendance when Price equals $80?
B) According to the modified model, what is a 95% confidence interval for Attendance when Price equals $80?
C) According to the modified model, what is a 95% prediction interval for Attendance when Price equals $80?

---

Definitions:

Consumer Credit Advertising

Marketing efforts aimed at promoting credit transactions to consumers, regulated to ensure fairness and transparency.

Baiting

involves luring someone by offering something enticing but not intending to deliver as promised, often used in deceptive marketing practices.

Truth in Lending Act

A federal law designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangement and all costs.

FTC Adjudicative Proceeding

A legal process by the Federal Trade Commission to resolve complaints against businesses violating consumer protection laws.