The following results are from data that were collected from a sample of Chicago Cubs baseball games. The dependent variable is ATTENDANCE, TEMP is a variable measuring the forecasted game-time temperature: WIN% is a variable measuring the winning percentage of the Cubs before the game is played, OPWIN% is a variable measuring the winning percentage of their opponent, WEEKEND is a dummy variable = 1 if the game is played on a weekend and = 0 if the game is played during a weekday, PROMOTION is a dummy variable = 1 if there is a promotion for the game (giving away something to those who attend the game) and = 0 if there is not a promotion, and WEEKPROM is an interaction term equal to WEEKENDPROMOTION. What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekday and there is NO promotion? e) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekday and there is a promotion? f) Based on your answers to the previous 2 questions, what is the marginal impact of offering a promotion for weekday games? g) Based on your answers to c) and f), if you were in charge of deciding when promotion should be offered, would you suggest that you have a promotion on a weekend or a weekday? Explain.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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7) The following results are from data that were collected from a sample of Chicago Cubs baseball games. The dependent variable is ATTENDANCE, TEMP is a variable measuring the forecasted game-time temperature: WIN% is a variable measuring the winning percentage of the Cubs before the game is played, OPWIN% is a variable measuring the winning percentage of their opponent, WEEKEND is a dummy variable = 1 if the game is played on a weekend and = 0 if the game is played during a weekday, PROMOTION is a dummy variable = 1 if there is a promotion for the game (giving away something to those who attend the game) and = 0 if there is not a promotion, and WEEK*PROM is an interaction term equal to WEEKEND*PROMOTION. What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekday and there is NO promotion? e) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekday and there is a promotion? f) Based on your answers to the previous 2 questions, what is the marginal impact of offering a promotion for weekday games? g) Based on your answers to c) and f), if you were in charge of deciding when promotion should be offered, would you suggest that you have a promotion on a weekend or a weekday? Explain.