A forecaster used the regression equation Q=a+b+qD+ c202 + c303 and quarterly sales data for 1998/2016/V (172) for an appliance manufacturer to obtain the results shown below. Qis quarterly sales, and D1, D₂. and D3 are dummy variables for quarters I, II, and III DEPENDENT VARIABLE OT OBSERVATIONS VARIABLE INTERCEPT R-SQUARE 72 08798 PARAMETER ESTIMATE 36 25 F-RATIO 122 547 STANDARD ERROR 12.54 0860 P-VALUE ON F 0.0001 T-RATIO P-VALUE 2.87 0.0055 291 00049

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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4

36
2.5
12
87
Transcribed Image Text:36 2.5 12 87
A forecaster used the regression equation
Q₁=a+b+qD₁+c202 + c303
and quarterly sales data for 1998/2016/V (t-1.72) for an appliance manufacturer to obtain the results shown below. Qis quarterly sales, and D1, D₂.
and D3 are dummy variables for quarters I, II, and III
DEPENDENT VARIABLE от
OBSERVATIONS 72
VARIABLE
INTERCEPT
T
01
D2
D3
R-SQUARE
0.8798
PARAMETER
ESTIMATE
36
25
12.0
F-RATIO
122 547
STANDARD
ERROR
12.54
0860
326
10 68
18.45
30.0
45.0
The estimated QUARTERLY increase in sales is
P-VALUE ON F
0.0001
T-RATIO P-VALUE
0.0055
0.0049
0.0005
2.87
291
3.68
201
2.44
units.
0.0066
00174
Transcribed Image Text:A forecaster used the regression equation Q₁=a+b+qD₁+c202 + c303 and quarterly sales data for 1998/2016/V (t-1.72) for an appliance manufacturer to obtain the results shown below. Qis quarterly sales, and D1, D₂. and D3 are dummy variables for quarters I, II, and III DEPENDENT VARIABLE от OBSERVATIONS 72 VARIABLE INTERCEPT T 01 D2 D3 R-SQUARE 0.8798 PARAMETER ESTIMATE 36 25 12.0 F-RATIO 122 547 STANDARD ERROR 12.54 0860 326 10 68 18.45 30.0 45.0 The estimated QUARTERLY increase in sales is P-VALUE ON F 0.0001 T-RATIO P-VALUE 0.0055 0.0049 0.0005 2.87 291 3.68 201 2.44 units. 0.0066 00174
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