Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. (10 pts) You are an analyst at MLB.com who was asked to determine how the temperature during a home game influences attendance. You select

image text in transcribed
1. (10 pts) You are an analyst at MLB.com who was asked to determine how the temperature during a home game influences attendance. You select a sample of 60 observations of home- game attendance and the day's temperature from around the league, and attempt to estimate the following PRF where ? is the attendence of each home game and X, is the temperature at the start of each home game in degrees. Estimate the above PRF using the sample provided (a) Determine by and by, and interpret them (mind the units of the variables). (b) Determine the coefficient of determination A , and interpret it. (c) Using only your regression output, can you say there is a statistically significant rele- tionship between temperature and attendance at baseball games? Explain your answer. (d) Predict the attendance at a baseball game on an 80 degree day. (DO NOT provide a confidence interval around this point estimate). (e) Is there evidence that one additional degree in temperature results in less then 100 additional attendees at the 95%% confidence level? Provide the null and alternative hy- potheses, the p-value associated with this test, and your conclusion. 2. (15 pts) Extend the regression model above to include a dummy variable indicating whether or not the game took place on a weekend. The new PRF to be analyzed is where Y is the attendance of each home game, Xy, is the temperature at the start of each home game in degrees, and ky; is a dummy variable which equals 1 when the game took place on a weekend (0 otherwise). Estimate the above PRF using the sample provided. (a) Determine by, and by and interpret them (mind the units of the variables and remember that this is a multiple regression model with a dummy variable) (b) What is the predicted difference between the attendance at a baseball game on an 80 degree day during the week or the weekend? (c) Extend the model again to include an interaction between temperature and the weekend dummy variable, where Xy, is the interaction term. Construct this variable in your dets, and estimate the PRF. Is the interaction term (8,) significantly different from 01 Provide the p-value for this test and explain your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Algebra

Authors: Alan S Tussy, Rosemary Karr, Marilyn Massey, Diane Koenig, R David Gustafson

5th Edition

1305161866, 9781305161863

More Books

Students also viewed these Mathematics questions

Question

1. To understand how to set goals in a communication process

Answered: 1 week ago