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Post: A regression analysis that I chose to discuss would be the price of concert tickets and the artists’ popularity at the time of the concert. Ticket prices would be higher if the artist is popular and the price would be lower if the artist is new and doesn’t have the right marketing behind them. Another variable would be venue location, if it’s a convenient up to date venue the would charge more to maintain upkeep. There are many factors that would affect ticket prices in a positive or negative way.
You have defined two factors affecting the price of the concert that is the popularity of artist and the venue location. Adding to this more factors can be,
1. Date of the venue: if it is a weekend ( higher price ) or a weekday ( lower price )
2. Target age group: If the show is for kids the tickets should be of lower price but if they are adult the price will be more.
3. Duration of the show is also positively associated with the price of the tickets
Needing help to respond to this post. Task: Use the discussion topic as a place to...