A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁Price + β₂Rides + 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 a 95% confidence interval for expected Attendance when Price and Rides equal $85 and 30, respectively? (Note that t_0,025,27 = 2.052.)

Question

A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁Price + β₂Rides + 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.

A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β<sub>0</sub> + β<sub>1</sub>Price + β<sub>2</sub>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 a 95% confidence interval for expected Attendance when Price and Rides equal $85 and 30, respectively? (Note that t<sub>0,025,27</sub> = 2.052.) A) [12,740, 56,780] B) [16,330, 53,450] C) [26,080, 42,740] D) [28,900, 41,500]

According to the modified model, which of the following is a 95% confidence interval for expected Attendance when Price and Rides equal $85 and 30, respectively? (Note that t_0,025,27 = 2.052.)

Quizplus · Accepted Answer

The Answer of A researcher analyzes the factors that may influence amusement park attendance and estimates the following model: Attendance = β₀ + β₁Price + β₂Rides + 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 a 95% confidence interval for expected Attendance when Price and Rides equal $85 and 30, respectively? (Note that t_0,025,27 = 2.052.) A) [12,740, 56,780] B) [16,330, 53,450] C) [26,080, 42,740] D) [28,900, 41,500]

A Researcher Analyzes the Factors That May Influence Amusement Park