Analysis of Lac Leman Festival de La Musique

Analysis

The data was collected on a complete historical data. The estimation of the mean, standard deviation, and Saturday attendance were determined from sample data using probability distribution and multiple regressions. The mean and the standard deviation of the marketing survey were calculated using Equation 1.0 and 2.0 below. Five variables were used in a multiple regression analysis (Table 1) and two variables were calculated from the marketing survey. Multiple regression models can be used with two or more independent variables to predict the value of a dependent variable. When there are several independent variables, a linear relationship can be assumed between each independent variable and the dependent variable. In the multiple regression model with four independent variables [Equation (3.0)], represent the change in the mean of estimated Saturday attendance per unit change in year, Friday rain, Friday attendance, and Saturday rain. The Saturday attendance was used as the dependent variable and four independent variables of historical data to predict the estimated attendance on Saturday. The regression model and the results are summarized in Figure 1.

In order to determine the total estimated DVD needed to be sold and the percentage of attendee who might purchase DVD, @RISK software was added into excel spreadsheet with the calculated mean and standard deviation from the estimated Saturday attendance. Original Simulation Model data and results were translated into in Microsoft Excel 2010 and these are summarized in Table 2 and Figure 2.

Conclusions and Recommendations

It is apparent from the analysis that the number of attendance, mean, and standard deviation as currently estimated by the regression model and marketing survey, has an effect on the estimated DVD purchase and the percentage of attendee who might purchase DVDs. Should Lac Leman De La Musique wishes to increase revenue and increase DVD sales, historical data, marketing survey, and @RISK...