Revenue and large venues A regression of Total Revenue on
Chapter 8, Problem 7E(choose chapter or problem)
Revenue and large venues A regression of Total Revenue on Ticket Sales by the concert production company of Exercises 2 and 4 finds the model
\(\widehat {Revenue} = -14,228 + 36.87\) 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 unwise to assume that this model accurately predicts revenue for this situation?
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