A regression of Total Revenue on Ticket Sales by the con-cert production company of Exercises 2 and
Question:
Revenue = - 14,228 + 36.87 Ticket Sales
a) Management is considering adding a stadium-style venue that would seat 10,000. What does this model predict that revenue would be if the new venue were to sell out?
b) Why would it be a poor business decision to assume that this model accurately predicts revenue for this situation?
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a Yhat 14228 3687 x 14228 368710000 354472 b Extrapolating this ...View the full answer
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Related Book For 
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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