In 2016, 13.27 million people attended a Broadway show, paying an average of more than $100 per ticket. We’d like to understand this $1.4 million business better. The Broadway League, Inc. (www .broadwayleague.com/research/statistics-broadway-nyc/), provides some historical and current data. The following variables are available for each year since the 1984–1985 season:
Season (The initial year of the season, so the 1984–1985 season is 1984.)
Gross ($M)
Attendance (M) Note: Before 2009 this is Paid Attendance. Beginning 2009 it is Attendance.)
Playing weeks (Total weeks during each show performed, summed over all shows; the best measure of Broadway’s overall activity.)
Here are some plots and background information.
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a) Name and check (to the extent possible) the regression assumptions.
b) If we found a regression of Gross receipts on New Productions, what would the R2 of that regression be?
