Consider the following set of quarterly sales data given in thousands of dollars. The following dummy variable model that incorporates a linear trend and constant seasonal variation was used: y (t)= B₀ + B_1t + B_Q1(Q1)+ B_Q2(Q2)+ B_Q3(Q3)+ E_t In this model there are 3 binary seasonal variables (Q1,Q₂,and Q₃). Where Q_i is a binary (0,1)variable defined as: Q_i = 1,if the time series data is associated with quarter i; Q_i = 0,if the time series data is not associated with quarter i. The results associated with this data and model are given in the following MINITAB computer output. The regression equation is Sales = 2442 + 6.2 Time - 693 Q1 - 1499 Q2 + 153 Q3 At $\alpha$ = .05,test the significance of the model.

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The Answer of Consider the following set of quarterly sales data given in thousands of dollars. The following dummy variable model that incorporates a linear trend and constant seasonal variation was used: y (t)= B₀ + B_1t + B_Q1(Q1)+ B_Q2(Q2)+ B_Q3(Q3)+ E_t In this model there are 3 binary seasonal variables (Q1,Q₂,and Q₃). Where Q_i is a binary (0,1)variable defined as: Q_i = 1,if the time series data is associated with quarter i; Q_i = 0,if the time series data is not associated with quarter i. The results associated with this data and model are given in the following MINITAB computer output. The regression equation is Sales = 2442 + 6.2 Time - 693 Q1 - 1499 Q2 + 153 Q3 At $\alpha$ = .05,test the significance of the model.

Consider the Following Set of Quarterly Sales Data Given in Thousands