The linear model for long-term trend is: y = β₀ + β₁t + ε,where t is the time period.The trend is indicated by:

Question

Quizplus · Accepted Answer

The long-term trend is indicated by the coefficient of the linear term in the regression equation, which is β₁t. Therefore, option B is the correct choice. Option A represents the intercept term and does not indicate trend. Option C represents the dependent variable and option D represents time, which is a component of the trend model but not the trend itself.

The Linear Model for Long-Term Trend Is: Y = β0

The Linear Model for Long-Term Trend Is: Y = β₀