Assignment:
Using Excel, calculate the elasticity of demand for the Washington Nationals from 2008 to 2016. What is the elasticity coefficient?
Create a time-series graph that plots the elasticity coefficient (left axis) with the % change in average home ticket prices (right coefficient). Print off that graph and attach to this assignment.
You'll need to look at my documents for the average attendance and average ticket prices as well.
|
Year (Tickets)
|
Average Ticket Price
|
|
|
2007
|
21.11
|
|
|
2008
|
25
|
|
|
2009
|
30.63
|
|
|
2010
|
30.63
|
|
|
2011
|
30.54
|
|
|
2012
|
30.54
|
|
|
2013
|
35.24
|
|
|
2014
|
35.24
|
|
|
2015
|
36.02
|
|
|
2016
|
36.59
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year (Attendance)
|
Average Home Attendance
|
|
2006
|
26580
|
|
|
2007
|
24217
|
|
|
2008
|
29005
|
|
|
2009
|
22715
|
|
|
2010
|
22568
|
|
|
2011
|
24877
|
|
|
2012
|
30010
|
|
|
2013
|
32745
|
|
|
2014
|
31844
|
|
|
2015
|
32343
|
|