A regression of Total Revenue on Ticket Sales by the concert production company of Exercises 2 and

Question:

A regression of Total Revenue on Ticket Sales by the concert production company of Exercises 2 and 4 finds the model
Revenue = -14,228 + 36.87 TicketSales.
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 unwise to assume that this model accurately predicts revenue for this situation?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Stats Data And Models

ISBN: 662

4th Edition

Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock

Question Posted: