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On a typical night in New York,about25,000people attend a Broadway show,paying an average price of more than$75per ticket.The accompanying table shows regression results using four
On a typical night in New York,about25,000people attend a Broadway show,paying an average price of more than$75per ticket.The accompanying table shows regression results using four weekly variables:Receipts ($millions),Paid Attendance (thousands),# Shows,Average Ticket Price ($).Receipts is modeled in terms of the other variables.Complete parts a through f below.
Source Sum of Squares df Mean Square F-ratio Regression 485.278 3 161.759 11693.6 Residual 1.009816 73 0.013833 Variable Coeff SE (Coeff) t-ratio P-valu Intercept - 18.290 0.3950 - 46.31 0.00 # Shows 0.002 0.0056 0.37 0.71 Paid Attendance 0.077 0.0008 96.33 0.00 # Shows 0.238 0.0049 48.21 0.00 ote: the bottom row variable in the table should actually be Average Ticket Price, not number of showsStep by Step Solution
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