Reference no: EM131111159
Please help me understand the process of how to calculate these questions:
Given these regression results estimating game attendance:
Variable Coefficient Standard Error
Intercept 24,398 9,248
AvgPrice -56 21
WinPct 4,491 1,872
Sunday 4,843 1,107
Week 864 447
1) Compute estimated attendance for a Sunday game, during week 3, with an average ticket price of $40, if the team's winning percentage is 100%.
2) Attendance is highest on Sundays, other things held constant. (true/false)
3) These regression results are compatible with the law of demand. (true/false)
4) What does a regression coefficient measure? (Or, how do you interpret the coefficient on a variable?)
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