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Calculate the marginal revenue of concession ( g ) for the year 1991. Do not include the $ in your answer. Question 4 Calculate the

image text in transcribedimage text in transcribed Calculate the marginal revenue of concession ( g ) for the year 1991. Do not include the $ in your answer. Question 4 Calculate the marginal revenue of concession (g^) for the year 2019. Do not include the $ in your answer. \begin{tabular}{|c|c|c|r|} \hline \multicolumn{4}{|c|}{ Detroit Tigers Dataset } \\ \hline Year & Avg. Attend & FCI & Avg.Ticket \\ \hline 1991 & 33,500 & $195.90 & $24.79 \\ \hline 1992 & 30,792 & $176.55 & $19.23 \\ \hline 1993 & 25,124 & $185.97 & $19.52 \\ \hline 1994 & 15,342 & $182.21 & $19.26 \\ \hline 1995 & 14,498 & $179.00 & $18.73 \\ \hline 1996 & 14,178 & $178.83 & $19.43 \\ \hline 1997 & 15,613 & $158.44 & $17.63 \\ \hline 1998 & 15,214 & $162.95 & $17.45 \\ \hline 1999 & 17,712 & $149.70 & $16.30 \\ \hline 2000 & 21,344 & $146.86 & $17.72 \\ \hline 2001 & 26,337 & $183.37 & $21.36 \\ \hline 2002 & 26,788 & $185.68 & $22.33 \\ \hline 2003 & 27,365 & $203.94 & $22.86 \\ \hline 2004 & 27,179 & $204.85 & $23.46 \\ \hline 2005 & 26,038 & $210.11 & $24.31 \\ \hline 2006 & 24,403 & $227.25 & $29.47 \\ \hline 2007 & 23,726 & $240.51 & $30.96 \\ \hline 2008 & 20,559 & $258.23 & $36.46 \\ \hline 2009 & 17,392 & $234.55 & $30.45 \\ \hline 2010 & 17,511 & $220.82 & $27.17 \\ \hline 2011 & 18,232 & $212.82 & $25.72 \\ \hline 2012 & 20,729 & $218.41 & $25.34 \\ \hline 2013 & 22,337 & $208.25 & $25.52 \\ \hline 2014 & 24,736 & $227.51 & $25.93 \\ \hline 2015 & 21,829 & $221.15 & $27.22 \\ \hline 2016 & 18,784 & $222.69 & $27.39 \\ \hline 2017 & 18,446 & $215.09 & $26.55 \\ \hline 2018 & 19,427 & $213.57 & $25.83 \\ \hline 2019 & 20,521 & $223.00 & $25.55 \\ \hline \end{tabular} \begin{tabular}{|l|c|} \hline \multicolumn{2}{|c|}{ Regression slopes } \\ \hline Average Ticket & 137.41 \\ \hline Fan Cost Index & 22.45 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline Calculate elasticity of demand using average ticket price data & \\ \hline Calculate elasticity of demand using average fan cost index data & \\ \hline \end{tabular} Calculate the following: \begin{tabular}{|c|c|c|c|c|} \hline Year & g & Pe & Pt & Ratio \\ \hline 1991 & & & & \\ \hline 2000 & & & & \\ \hline 2001 & & & & \\ \hline 2019 & & & & \\ \hline \end{tabular} Attendance and FCI (adj for inflation) SUMMARY OUTPUT \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Regression Statistics } \\ \hline Multiple R & 0.12447 \\ \hline R Square & 0.01549 \\ \hline Adjusted R Square & -0.02097 \\ \hline Standard Error & 5061.59 \\ \hline Intercept & 17047.2 \\ \hline FCI & 22.4491 \\ \hline t Stat & 0.65182 \\ \hline P-value & 0.52003 \\ \hline Observations & 29 \\ \hline \end{tabular} Attendance and Average Ticket Price (adj for inflation) \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Regression Statistics } \\ \hline Multiple R & 0.13098 \\ \hline R Square & 0.01716 \\ \hline Adjusted R Square & -0.01925 \\ \hline Standard Error & 5057.31 \\ \hline Intercept & 18286.2 \\ \hline Avg. Ticket & 137.41 \\ \hline t Stat & 0.68652 \\ \hline P-value & 0.49824 \\ \hline Observations & 29 \\ \hline \end{tabular} FCI and average ticket prices were adjusted to 2021 dollars Example, the ticket price in 1991 was $12.56, however that equates to $24.79 in 2021 dollars

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