University of Wyoming Men’s Basketball Team Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

University of Wyoming Men’s Basketball Team Case Solution

Answers to Question # 1

The sales of tickets and the concession sales are dependent variables. These dependant variables might change with change in different factors.With the help of the exhibits given in the case, one can analyze the effects of these variables on sales pattern. Moreover, the analysis provides the demand for sales of ticket change from time to time.

The forecasting for future sales of tickets and concession sales should be done to keep in view all the variables that affect the independent variables. The consideration of independent variables should be addressed to minimize the percentage of errors probability in the forecasting. The following independent variables are responsible for the change in sales of tickets and concession sales.

Performance of the Team:

The buying of the tickets depends on the Win ratio or performance of the team. The good performance of the team would lead to an increase in sales. The followers of the team will tend to buy tickets of every match as it would also influence the friends and relatives of the follower to buy ticket with the help of the word of mouth.

Time and Days:

Time also has a big impact on the sales of tickets. The crowd will buy more tickets at the time when they are free. The day of the week is acrucial variable in determining the sales of tickets and concession sales. More crowds are assumed to be attracted towards the match to come and watch the match on Saturdays and Sundays. This shows that the days and time have crucial importance on forecasting sales of the tickets.

The University of Wyoming Men’s Basketball Team Case Solution

The Team’s Competitor:

The University of Wyoming’s Men’s Basketball Team competes in the Mountain West Conference as well as the team competes with eight other universities in the Mountain West Conference. In Mountain West Conference, every team has to play two games with each other. Apart from that, the team has the opportunity to host one game from two.

The conference game held at University of Wyoming will have the benefit of hosting the crowd. The University of Wyoming Men’s Basketball Team also has the opportunity to host other games from different conferences. The conference games have huge impact on the sales of tickets from home crowd and the competitors’ crowd.The followers of the University of Wyoming Men’s Basketball Team might be more excited to buy tickets at higher prices without considering the days.

Answers to Question # 2

The relationship between the independent and dependent variables is forecasted by the regression model. The linear or multiple regression models are used to perform these actions of forecasting. In this case, the multiple linear regression method was used to forecast the sales of tickets and concession sales. Both the variables were examined separately to perform the forecasting by the multiple linear regression method.

Prediction of the Ticket Sales:

The application of the multiple linear regression method defines the significance level of dependence on the sales of the tickets. The level of significance helps to know the dependency of dependant variable on the independent variable. The number of independent variables might be more than one.

The spread sheet shows that there gression model was developed. The regression model has a P-value less than 0.05. The level of significance can be assumed by the p-value. The level of significance has p-value less than 0.05. The model shows that the value is significant which indicates that the relationship between the dependent and independent variable or variables is significant................

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