Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Background The NBA G League, or simply the G League, is the National Basketball Association's official minor league basketball organization. The league was known as
Background The NBA G League, or simply the G League, is the National Basketball Association's official minor league basketball organization. The league was known as the National Basketball Development League from 2001 to 2005, and the NBA Development League from 2005 until 2017. In the 2017-18 season, the D-League entered into a multi-year partnership with Gatorade and announced it would be rebranded as the NBA Gatorade League, which was officially shortened to "NBA G League" prior to the season. The G League is for players who are not on NBA rosters but who want to fine-tune their skills in hopes of getting called up to the NBA. NBA G League teams typically hold open tryouts for local players before each season. Each team can then invite up to five players from its respective tryout to training camp that fall. The average salary for players in the G League is $35,000, but salary is tiered, with most earning less than $35,000. Problem Details Suppose one of the G League's teams (perhaps the Cleveland Charge) is considering increasing the season ticket prices for basketball games. The marketing manager is concerned that some people will cancel their ticket orders if this change occurs. If more than 10% ofthe season ticket orders would be canceled, the marketing manager does not want to implement the price increase. To test the waters, a random sample ofticket holders is surveyed and asked what they would do if the prices were increased. The 100 responses" from the survey can be found in the Worksheet titled "Problem 2 Tickets\" in the Excel file titled Group Case #1 Data. Requirements (See rubric on page 7) Use the data and appropriate analysis to provide the marketing manager the information he needs in order to decide whether to increase ticket prices. 1. Test the appropriate hypotheses, ensuring a maximum 5% Type I error rate. 2. Clearly explain to the manager the results of the analysis, including the possible decision errors and consequences
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started