A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁ Price + β₂ Rides + ε,where Attendance is the daily attendance (in 1,000s),Price is the gate price (in $),and Rides is the number of rides at the amusement park.The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30,respectively.The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price* = Price - 85 and Rides* = Rides - 30.A portion of the regression results is shown in the accompanying table. According to the modified model,which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30,respectively? A) 25,670 B) 34,410 C) 40,910 D) 55,600

Question

Quizplus · Accepted Answer

The Answer of A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁ Price + β₂ Rides + ε,where Attendance is the daily attendance (in 1,000s),Price is the gate price (in $),and Rides is the number of rides at the amusement park.The researcher would like to construct interval estimates for Attendance when Price and Rides equal $85 and 30,respectively.The researcher estimates a modified model where Attendance is the response variable and the explanatory variables are now defined as Price* = Price - 85 and Rides* = Rides - 30.A portion of the regression results is shown in the accompanying table. According to the modified model,which of the following is the predicted value for Attendance when Price and Rides equal $85 and 30,respectively? A) 25,670 B) 34,410 C) 40,910 D) 55,600

A Researcher Analyzes the Factors That May Influence Amusement Park