OM basketball team had set same prices for its 41 game schedule regardless of the opponent of the game. Person AP, who is the director of business strategy, developed a database for ticket sales. He founded that the firm could improve their revenue if they had charged prices based on their fans preferences. Person AP found a seat could have seven different price variations. The day of the week (x 1 ) A rating of how popular the opponent was (x 2 ). The times of the year (x 3 ) are major statistical factors, which determine the demand for a game. He found the days, which favored games, and based on the analysis, rating were provided. Ratings on a scale of 0 to 8 were given based on the popularity of the opponents. Finally, Person AP classified that games occurred in four seasons. They were Score 0 for early games. Score 3 for games during Christmas season. Score 2 for games until the All-Star break. Score 3 for games leading to play-offs. To determine: To suggest additional independent variables to include in Person AP model.

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Chapter 4, Problem 1.4VC

Summary Introduction

Introduction:

OM basketball team had set same prices for its 41 game schedule regardless of the opponent of the game. Person AP, who is the director of business strategy, developed a database for ticket sales. He founded that the firm could improve their revenue if they had charged prices based on their fans preferences.

Person AP found a seat could have seven different price variations.

The day of the week (x₁)

A rating of how popular the opponent was (x₂).

The times of the year (x₃) are major statistical factors, which determine the demand for a game.

He found the days, which favored games, and based on the analysis, rating were provided. Ratings on a scale of 0 to 8 were given based on the popularity of the opponents. Finally, Person AP classified that games occurred in four seasons. They were

Score 0 for early games.

Score 3 for games during Christmas season.

Score 2 for games until the All-Star break.

Score 3 for games leading to play-offs.

To determine: To suggest additional independent variables to include in Person AP model.

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