Question
A regression was conducted to predict minor league baseball game attendance (in number of people) based on month, and the day of the week. The
A regression was conducted to predict minor league baseball game attendance (in number of people) based on month, and the day of the week. The minor league baseball season begins in April and ends in October. The results are found in the table below. All questions in this part of the exam pertain to the following results.
1. Comment on the goodness of fit for this model
2. What day of the week and month would you offer this promotion? Explain your answer.
3. At a marketing meeting, big time baseball minds Sally Slugger and Ricky Runs got into a heated argument about picking the appropriate alpha for evaluating the significance of the overall model (predicting attendance using the independent variables specified in the model) or testing specific coefficients. Would you recommend a using a high alpha, low alpha, or 0.05. Explain.
Month (May) | 7163.2 |
Month (June) | -2385.6 |
Month (July) | 2849.8 |
Month (August) | 29.03 |
Month (September) | 2377.9 |
Month (October) | -662.7 |
Day of Week (Tuesday) | 2460.0 |
Day of Week (Wednesday) | 7911.5 |
Day of Week (Thursday) | 4883.8 |
Day of Week (Friday) | 775.4 |
Day of Week (Saturday) | 6724.0 |
Day of Week (Sunday) | 6372.1 |
Observations | 81 |
Adjusted R2 | 0.456 |
F Statistic | 6.158 (df = 13, 67) |
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Business Analytics Methods Models And Decisions
Authors: James R. Evans
2nd Edition
607
