SCENARIO 16-8
The manager of a marketing consulting firm has been examining his company's yearly profits.He believes that these profits have been showing a quadratic trend since 1994.He uses Microsoft Excel to obtain the partial output below.The dependent variable is profit (in thousands of dollars),while the independent variables are coded years and squared of coded years,where 1994 is coded as 0,1995 is coded as 1,etc.

-Referring to Scenario 16-8,the forecast for profits in 2014 is .

Question

SCENARIO 16-8
The manager of a marketing consulting firm has been examining his company's yearly profits.He believes that these profits have been showing a quadratic trend since 1994.He uses Microsoft Excel to obtain the partial output below.The dependent variable is profit (in thousands of dollars),while the independent variables are coded years and squared of coded years,where 1994 is coded as 0,1995 is coded as 1,etc.
 
-Referring to Scenario 16-8,the forecast for profits in 2014 is .

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The Answer of SCENARIO 16-8
The manager of a marketing consulting firm has been examining his company's yearly profits.He believes that these profits have been showing a quadratic trend since 1994.He uses Microsoft Excel to obtain the partial output below.The dependent variable is profit (in thousands of dollars),while the independent variables are coded years and squared of coded years,where 1994 is coded as 0,1995 is coded as 1,etc.
 
-Referring to Scenario 16-8,the forecast for profits in 2014 is .

SCENARIO 16-8 The Manager of a Marketing Consulting Firm Has Been Examining