Homework Help is Here – Start Your Trial Now!
Math
Statistics
A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = 6 + 61 Price + 82 Rides + E, where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price Price - 85 and Rides= Rides-30. A portion of the regression results is shown in the accompanying table. Multiple Choice O O p-value 4.33E-09 Intercept Price* Rides* 0.0002 1.04E-10 According to the modified model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively? 25,670 34,410 40,910 Coefficients 34.41 -1.20 3.62 55,600 Standard Error 4.06 0.28 0.36 t-stat 8.48 -4.23 10.15 Lower 95% 26.08 -1.79 2.89 Upper 95% 42.74 -0.62 4.35

A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = 6 + 61 Price + 82 Rides + E, where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price Price - 85 and Rides= Rides-30. A portion of the regression results is shown in the accompanying table. Multiple Choice O O p-value 4.33E-09 Intercept Price* Rides* 0.0002 1.04E-10 According to the modified model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively? 25,670 34,410 40,910 Coefficients 34.41 -1.20 3.62 55,600 Standard Error 4.06 0.28 0.36 t-stat 8.48 -4.23 10.15 Lower 95% 26.08 -1.79 2.89 Upper 95% 42.74 -0.62 4.35

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question

Subject: ec

A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = 60 + 6₁ Price + 62 Rides + ε, where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price* = Price - 85 and Rides* = Rides - 30. A portion of the regression results is shown in the accompanying table. Intercept Price* Rides* Multiple Choice O 25,670 O 34,410 O 40,910 Coefficients 34.41 O 55,600 -1.20 3.62 Standard Error 4.06 0.28 0.36 According to the modified model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively? t-stat 8.48 -4.23 10.15 p-value 4.33E-09 0.0002 1.04E-10 Lower 95% 26.08 -1.79 2.89 Upper 95% 42.74 -0.62 4.35
Transcribed Image Text:A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = 60 + 6₁ Price + 62 Rides + ε, where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price* = Price - 85 and Rides* = Rides - 30. A portion of the regression results is shown in the accompanying table. Intercept Price* Rides* Multiple Choice O 25,670 O 34,410 O 40,910 Coefficients 34.41 O 55,600 -1.20 3.62 Standard Error 4.06 0.28 0.36 According to the modified model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively? t-stat 8.48 -4.23 10.15 p-value 4.33E-09 0.0002 1.04E-10 Lower 95% 26.08 -1.79 2.89 Upper 95% 42.74 -0.62 4.35
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS