University of Wyoming Men’s Basketball Team Harvard Case Solution & Analysis

University of Wyoming Men’s Basketball Team Case Solution

# 01:

It has been observed that there are number of factors dependent upon the concession sales and the ticket sales. With the help of the previous data, it can be seen that the demand is quite fluctuating annually. In order to forecast accurately with minimal errors some variables are needed to be considered which have an impact on the overall tickets as well as the concession sales. The variables that have the impact on both the sales are listed below:

  1. Team’s Performance: The performance of the team has the first and foremost impact on the selling of ticket. People buy tickets only if the team is good which increases the positive image of the team among all the viewers with which there are lots of chances of purchases.
  2. Days of the Week:Obviously there will be more crowds on the weekends to view the match which increases the purchases of tickets on the weekends. Therefore, this is also one very important factor which affects the demand of tickets as well as concession sales.
  3. The Team’s Competitor:Last but not the least impact is the opponent playing with the team if it is very strong one then surely there will be tough competition between the two which entices more crowds to purchase the tickets. Therefore, this is also one of the very important factors which have a great impact on the sales of the two types of ticket.

All the above mentioned factors have the great impact on the demand of the ticket as well as the concession sales.

Answer # 02:

With the help of multiple linear regression, two models have been prepared for predicting the ticket sales whereas the other one is for predicting the concession sales which are summarized as below:

Predicting the Ticket Sales:

With the help of regression analysis, the dependency of one variable over the variables can be analyzed. In the current scenario, in predicting the ticket sales the multiple regression models is developed as shown below which depicts that the P-value is less than 0.05 which shows that the dependency is significant on independent variable over the dependent variable which reveals the fact that the there is significant dependence of the ticket sales over the change that can take place and thus changing the overall revenue from this source. In simpler words, it can be said that by keeping all the other variables constant if there will be change in the ticket sales the revenues generated from this source of ticket sales would create 0.05 percent change.

Predicting the Concession Sales:

By preparing the multiple linear regression models for predicting the concession sales, it shows almost the direct relationship between the revenue of the team and the concession sales. With the increase in the sales of the tickets the revenue derived from this source would simultaneously increases. In this scenario it can be seen that the P-value comes out to be 5% which depicts the significant dependence of the revenues are significantly dependent on the sales of the tickets....................

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