A regression of Total Revenue on Ticket Sales by the con-cert production company of Exercises 2 and
Question:
Revenue = - 14,228 + 36.87 Ticket Sales
a) Management is considering adding a stadium-style venue that would seat 10,000. What does this model predict that revenue would be if the new venue were to sell out?
b) Why would it be a poor business decision to assume that this model accurately predicts revenue for this situation?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (18 reviews)
a Yhat 14228 3687 x 14228 368710000 354472 b Extrapolating this ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
Question Posted:
Students also viewed these Statistics questions
-
A regression of Total Revenue on Ticket Sales by the concert production company of Exercises 2 and 4 finds the model Revenue = -14,228 + 36.87 TicketSales. a) Management is considering adding a...
-
The regression of Total Revenue on Total Expenses for the concerts of Exercise gives the following model: Dependent variable is: Total Revenue R squared = 56.4% R squared (adjusted) = 55.0% s = 24269...
-
Management proposed the following regression model to predict sales at a fast-food outlet. y = β0 + β1x1 + β2x2 + β3x3 + ε Where The...
-
Crystal Cleaners dry cleans industrial clothing. The following excerpt from its PPE Subledger shows the component details regarding the dry cleaning equipment: Calculate depreciation on the dry...
-
Are there real-world markets that resemble double oral auctions? Suppose you had to organize a double oral auction for a good that has perfectly elastic demand. Do you expect prices to approach the...
-
Counting the growth rings of a tree is a good way to tell the age of a tree. Each growth ring counts as one year. Use a Canvas widget to draw how the growth rings of a 5-year-old tree might look....
-
A motor has large rotors mounted onto its dual output shafts. A design engineer has calculated the static rotor weight to be within the specifications for bearing loading. The motor ships, and on...
-
Aspen Industries became a corporation in the state of Colorado on March 23, 2015. The company was authorized to issue 1 million shares of $6 par value common stock. Since the date of incorporation,...
-
Gold coast organics has a total assets turnover of 2.5 and a net profit margin of 3.5 percent.the total debt ratio for the firm is 50 percent.calculate the gold coast organics return On equity.
-
Your event lighting company is thinking about investing in a bank of portable lights for sporting events. Your accounting department just brought you the following pro-forma accounting projections...
-
In Exercise 63 we examined the relationship between log(GDPPC) and HDI. The number of Internet users (per 1000 people) is also positively associated with economic progress in a country. Heres a...
-
The production company of Exercise 7 offers advanced sales to Frequent Buyers through its website. Heres a relevant scatterplot: One performer refused to permit advanced sales. What ef-fect has that...
-
Distinguish between not-for-profit and for-profit corporations.
-
Explain the difference between a freedom to contract and a fairness approach to enforcement. In this context, what is the significance of the Simeone case?
-
Define and distinguish among subject matter, personal, and in rem jurisdiction.
-
What is a CAFR? Discuss.
-
Define putative spouse and discuss its significance.
-
Describe the purpose of a married womens property act.
-
Which of the following taxpayers is not eligible for an economic impact payment in 2020? a. Savannah, a married taxpayer with no children, and has AGI of $75,000 in 2020 b. Blake, a single taxpayer...
-
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
-
The directional absorptivity of a gray surface varies with \(\theta\) as follows. (a) What is the ratio of the normal absorptivity \(\alpha_{n}\) to the hemispherical emissivity of the surface? (b)...
-
The U.S. Bureau of Labor Statistics reports that of persons who usually work full-time, the average number of hours worked per week is 43.4.Assume that the number of hours worked per week for those...
-
A U.S. Bureau of Labor Statistics survey showed that one in five people 16 years of age or older volunteers some of his or her time. If this figure holds for the entire population and if a random...
-
An entrepreneur opened a small hardware store in a strip mall. During the first few weeks, business was slow, with the store averaging only one customer every 20 minutes in the morning. Assume that...
-
A consultant advises that a fund pays out $100,000 at the end of 5 years. Provided $12,000 is invested in the fund at the start of each year, beginning immediately and continuing up to and including...
-
Durco Automotive needs a $2 million balance in its contingency fund 3 years from now. The chief financial officer (CFO) wants to know how much to deposit now into Durco's high-yield investment...
-
3. Create a chart for gross margin less R&D and capital costs calculations. a. Calculate gross margin less R&D and capital costs for options A and B. b. Graph total gross margin less R&D and capital...
Study smarter with the SolutionInn App