A Marketing Manager Examines the Relationship Between the Attendance at Amusement

question 93

Essay

A marketing manager examines the relationship between the attendance at amusement parks and the price of admission.He estimates the following model: ,
where Attendance is the average daily number of people who attend an amusement park in July (in 1000s)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. a.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? (Note that . )
C)According to the modified model,what is a 95% prediction interval for Attendance when Price equals $80? (Note that . )

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Definitions:

CDS Seller

A counterparty in a credit default swap agreement who provides credit protection, compensating the buyer in case of a debt default or other credit event.

Predatory Lending

Unscrupulous lending practices that impose unfair, deceptive, or abusive loan terms on borrowers, often leading to a debt trap.

Monthly Payments

Regular payments made on a loan or mortgage, usually consisting of principal and interest components, occurring once a month.

Commission-Driven Brokers

Financial agents whose earnings are primarily derived from commissions on sales or transactions they facilitate for clients.