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[Part B: Module III - Regression] [Concert Nation] Concert Nation, INC. is a nationwide promoter of rock concerts. The president of the company wants to
[Part B: Module III - Regression] [Concert Nation] Concert Nation, INC. is a nationwide promoter of rock concerts. The president of the company wants to develop a model to estimate the revenue of a major concert event at large venues (such as Ford Field, Madison Square Gardens) for planning marketing strategies. The company has collected revenue data of 41 recent large concert events. For each concert, they have also recorded the attendance. the number of concession stands in the venue, and the Billboard chart of the artist in the week of each event. This data is available in "Part B - Data Set for Assessment Assignment.xlsx". They have two potential models that could explain the revenue. The two competing models are: Model A: Revenue = Bo + BfAttendance + EA Model B: Revenue = Bo + BY Billboard + Es Run regression on both models. Use only the regression outputs of the two models and the original data to answer questions 14 to 20 below. 14. [2 pt] Let's consider the model A first. Which of the following statement is correct? (a) The p-value of F-test is 221.64. Thus, the model does not significantly explain the revenue. (b) The p-value of F-test is close to zero. This means that the independent variable in the regression significantly explains the revenue. (c) The regression degrees of freedom is 40 in this regression model. (d) Low p-value of F-test indicates weak evidence of a linear relationship
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