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?

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Definitions:

Diplobacilli

A type of bacteria that forms pairs of bacilli, which are rod-shaped bacterial cells, often involved in various human diseases.

Staphylococcus

A genus of spherical bacteria known to cause various infections due to its resistance to antibiotics.

Thermoacidophiles

Microorganisms that thrive in extremely hot and acidic environments, such as hot springs and hydrothermal vents.

Methanogens

Microorganisms that produce methane as a metabolic byproduct in anoxic conditions, often found in wetlands or the guts of animals.