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The partial Mega Stat output below is regression analysis of the relationship between attendance and number of wins in a season for a sample of 11 teams in professional sports. The purpose of the analysis is to predict annual attendance (000) when given the number of wins. Refer to the printout above. The Sum of Squares Regression is:
Quantity Demanded
The amount of a good or service that consumers are willing and able to purchase at a given price.
Price
A measure of the monetary value assigned to a product or service, indicating what must be given up to obtain it.
Market Demand Curve
A graphical representation showing the relationship between the price of a good and the total quantity demanded by all consumers in the market.
Prices
The amount of money required to purchase goods or services.
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