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A researcher analyzes the factors that may influence amusement park attendance. She estimates the following model: Attendance = Bo + B1 Price + B2 Temperature
A researcher analyzes the factors that may influence amusement park attendance. She estimates the following model: Attendance = Bo + B1 Price + B2 Temperature + 83 Rides + E, where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), Temperature is the average daily temperature (in F), and Rides is the number of rides at the amusement park. A portion of the regression results is shown in the accompanying table: Significance df SS MS F F Regression 3 29,524.41 9,841.47 2.18E-14 27 Residual 26 2,564.37 98.63 Total 29 32,088.78 Coefficients Standard Error t-stat p-value Lower 95% Upper 95% Intercept 27.328 40.254 0.5032 -55.415 110.071 Price -1.201 0.294 0.0004 -1.805 -0.598 Temperature 0.008 0.208 0.9693 -0.419 0.435 Rides 3.621 0.364 2.32E-10 2.874 4.369 When testing whether the explanatory variables Temperature and Rides are jointly significant, the p-value associated with the test is 0.0000. At the 1% significance level, the researcher rejects Ho, and cannot conclude that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance O does not reject Ho, and cannot conclude that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance rejects Ho, and concludes that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance does not reject Ho, and concludes that at least one of the explanatory variables, Temperature and Rides, is significant in explaining AttendanceQuestion 28 4 pts A researcher analyzes the factors that may inuence amusement park attendance and estimates the following model: Attendance 2 g | ,81 Price + g Rides + e, where Attendance is the daily attendance (in 1,0005), Price is the gate price (in $), and Rides is the number of rides at the amusement park. The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30, respectively. The researcher estimates a modied model where Attendance is the response variable and the explanatory variables are now dened as Price\" 2 Price 85 and Rides'\" = Rides 30. A portion of the regression results is shown in the accompanying table. _-}__-I-_I_ -E--___ 0.0002 min According to the modied model, which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30, respectively? 55.600 25,670 40,910 34,410
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