The setting is of a U.S. variety TV program with a live audience. Who recognizes the show?
Update March 22, 2017
It turns out to be from the the final episode (#209) of the 4-season series of the David Frost Show, aired on July 7, 1972. The other guests were senator Edward Kennedy (who discussed the book To Ask Why Not: Robert Kennedy) and singer Carly Simon.
Ray performed the tune on David's special request. Compare this, from 12'00":