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. a) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is NO promotion? b) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is a promotion? c) Based on your answers to the previous 2 questions, what is the marginal impact of offering a promotion for weekend games?
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. a) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is NO promotion? b) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is a promotion? c) Based on your answers to the previous 2 questions, what is the marginal impact of offering a promotion for weekend games?
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.
a) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is NO promotion?
b) What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is played on a weekend and there is a promotion?
c) Based on your answers to the previous 2 questions, what is the marginal impact of offering a promotion for weekend games?
Transcribed Image Text: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.
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
0.639
0.408
0.360
Standard Error
4289
Observations
81
ANOVA
df
6.
SS
MS
Significance F
0.00000051
Regression
937187572
156197929
8.49
Residual
74
1361494231
18398571
Total
80
2298681803
Coefficients
Standard Error
t Stat
P-value
Upper 95%
24536.7
Lower 95%
Intercept
Temp
12405.7
6088.2
2.04
0.05
274.8
72.6
38.9
1.87
0.07
-4.8
150.1
Win%
24.3
12.4
1.97
0.05
-0.3
49.0
OpWin%
5.7
6.0
0.94
0.35
-6.3
17.6
Weekend
5254.6
1654.8
3.18
0.00
1957.2
8551.9
Promotion
4432.5
1363.6
3.25
0.00
1715.5
7149.5
Week*Prom
-3057.6
1830.5
-1.67
0.10
-6700.3
585.1
a)
What is the predicted attendance if TEMP = 70, WIN% = 500, OPWIN% = 500, the game is
played on a weekend and there is NO promotion?
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