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

Identify the variables that are likely to be related to ticket and concession sales

There are several factors that may affect the ticket and concession sales as these sales have dependency over these factors. Moreover, it is observed that the demand of the tickets has been varying on a yearly basis, which makes it difficult to predict the accurate number of ticket and concession sales. The sales of the tickets and sales concession are dependent upon following variables:

Day of the week of the game (Weekday or Weekend)

The day of the week is an important variable that affects the sale and demand of the tickets as people usually prefer to watch their favorite match on the weekend as compared to the working days. Therefore, it is the most vital factor that affects the demand of the tickets.

Opponents

The basketball team of University of Wyoming Men plays mostly in the Mountain West Conference however;extra games can also be hosted by the Wyoming Men's Basketball Team against the team that belongs to the other conference.Moreover, it is identified through the previous pattern that the demand of the ticket is more when there are matches among the opponents from the same conference in comparison to the matches among the opponents that are non-conference. Therefore, opponents are another factor, which affects the demand of the tickets among the customers.

Performance of the UM Team

The performance of the whole team greatly affectsthe demand of the sales of tickets and concession as the better performance of the team will motivate the people who are its followers,whichwill result in an increase in the demand of the tickets.

Use multiple linear regressions to develop two models: one for predicting ticket sales and one for predicting concession sales.

The multiple linear regression model is used in order to the predict ticket sales as well as to predict concession sales. It is the method that is used to determine the relationship between the dependent variable and independent variable. The regression analysis determines the level of significance that assists in analyzing the dependency of one variable on the independent variables. It is assumed that the single game tickets sold and revenue concession from the year 2011 will remain the same as of the previous year 2010.

Predicting Ticket Sales

The regression model is developed by using the given data and the P value that results from the model is less as compared to the 5% or 0.05 level of significance(Refer excel file). This means that the sales of the tickets are affected by any change in the independent variables, which in result also change the revenue of the ticket. By keeping the other variables constant, the coefficient in the model indicates that the changes in the sales of the tickets can bring change in the profits of the tickets.

Predicting concession sales

The sales of ticket greatly affect the revenue of the concession as any change in the sales of the ticket will increase /decrease the concession revenue. In addition to this, the increase in the sales of the ticket will increase the revenue of concession whereas; any decrease in the sales ticket will also reduce the revenue of the concession. However, the p-value derived from the regression analysis is less as compared to the 5% or 0.05 level of significance, which reflects that the concession revenue is largely dependent upon the sales of the tickets(Refer excel file).

3. Develop a simulation model to predict total revenue for a single 16-game season. One variable in your simulation should be the team’s win percentage. The simulation model should be entered into a spreadsheet to facilitate multiple replications.

The simulation model is developed in order to predict total revenue for a single 16-game season. However, it is analyzed from the simulation model evaluation that the total revenue of the Wyoming Men's Basketball Team will increase by the year 2011 up to $48,378. This level of revenue will be achieved by charging the unit price of $164 at the percentage of 62 %( refer to excel file)..................

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