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Happy Days currently has two admission categories, each with a different admission ticket price, which it uses in all of its parks. Those categories are:
Happy Days currently has two admission categories, each with a different admission ticket price, which it uses in all of its parks. Those categories are: (1) weekday admission, and (2) weekend admission. We began our analysis by testing the effects that changes in the price of admission for each of the categories would have on the number of paid admissions. Testing was done at various parks at various times and the results are statistically reliable. Using the tests results, we computed elasticity values to get a general understanding of the effects of price changes on admission demand. Our elasticity calculations were made using prechange prices and prechange quantities as the base (denominator), rather than the average of the old and new prices and quantities. A summary of our results for each category, weekday and weekend, is shown above
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