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The Management of a Professional Baseball Team Is in the Process

question 19

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 = $\beta$ ₀ + $\beta$ ₁x₁ + $\beta$ ₂x₂ + $\beta$ ₃x₃ + $\varepsilon$ 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: $The management of a professional baseball team is in the process of determining the budget for next year.A major component of future revenue is attendance at the home games.In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables.The model is of the form: y = \beta 0 + \beta 1x1 + \beta 2x2 + \beta 3x3 + \varepsilon where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables,and they are defined below. x2 = 1,if weekend x2= 0,otherwise x3= 1,if weather is favorable x3= 0,otherwise After collecting the data based on 30 games from last year,and implementing the above stated multiple regression model,the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Assume today is Saturday morning and the weather forecast indicates sunny,excellent weather conditions for the rest of the day and that the overall model is useful in predicting the game attendance.Later today,there is a home baseball game for this team.If the current power rating of the team is 92,use the model given above and predict the attendance for today's game.$ The multiple regression compute output also indicated the following: $The management of a professional baseball team is in the process of determining the budget for next year.A major component of future revenue is attendance at the home games.In order to predict attendance at home games the team statistician has used a multiple regression model with dummy variables.The model is of the form: y = \beta 0 + \beta 1x1 + \beta 2x2 + \beta 3x3 + \varepsilon where: Y = attendance at a home game x1 = current power rating of the team on a scale from 0 to 100 before the game. x2 and x3 are dummy variables,and they are defined below. x2 = 1,if weekend x2= 0,otherwise x3= 1,if weather is favorable x3= 0,otherwise After collecting the data based on 30 games from last year,and implementing the above stated multiple regression model,the team statistician obtained the following least squares multiple regression equation: The multiple regression compute output also indicated the following: Assume today is Saturday morning and the weather forecast indicates sunny,excellent weather conditions for the rest of the day and that the overall model is useful in predicting the game attendance.Later today,there is a home baseball game for this team.If the current power rating of the team is 92,use the model given above and predict the attendance for today's game.$ Assume today is Saturday morning and the weather forecast indicates sunny,excellent weather conditions for the rest of the day and that the overall model is useful in predicting the game attendance.Later today,there is a home baseball game for this team.If the current power rating of the team is 92,use the model given above and predict the attendance for today's game.

Definitions:

Inequality

The unequal distribution of resources, opportunities, and rights among individuals or groups within a society.

Constrained

Limited or restricted in terms of actions, choices, or resources, often due to external pressures or circumstances.

Determinant

A factor or element that decisively affects the nature or outcome of something.

Bureaucratic Structure

A system of administration characterized by hierarchical organization, formal rules and procedures, and a clear division of responsibilities.