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Regional Economics: Theory and Practice
 

Using time series to assess a valuable end product creation in the tertiary industry – The sports sector case study: A regional aspect

Vol. 19, Iss. 7, JULY 2021

Received: 15 March 2021

Received in revised form: 29 April 2021

Accepted: 9 June 2021

Available online: 15 July 2021

Subject Heading: ECONOMIC AND MATHEMATICAL MODELING

JEL Classification: C22, Z20, Z23

Pages: 1355–1381

https://doi.org/10.24891/re.19.7.1355

Dmitrii P. ARKALOV Ural State University of Economics (USUE), Yekaterinburg, Russian Federation
lao48@yandex.ru

https://orcid.org/0000-0002-2751-9836

Subject. This article analyzes the sports parameters necessary to create a valuable end product.
Objectives. Based on the comprehensive analysis, the article aims to evaluate key indicators associated with a sports valuable end product creation.
Methods. For the study, I used a statistical analysis.
Results. Based on the comprehensive analysis of the input data on financing, number of athletes, and the purchasing power, using time series, the article presents equations which can help make predictions and use them in further planning. The article also shows the average cost of creating one unit of valuable end product by year for the period 2010–2019.
Conclusions. Positive dynamics indicate that the number of athletes in national sports teams (valuable end products) is increasing. However, their number is still insufficient.

Keywords: sports economics, sports statistics, time-series models, valuable final product, systems theory

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