Exhibit 18.5.Based on quarterly data collected over the last 4 years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook: , where Qtr1,Qtr2 and Qtr3 are dummy variables corresponding to Quarters 1,2 and 3.
Refer to Exhibit 18.5.By how many percent the demand in Quarter 3 is on average higher than the average quarterly demand?

Question

Exhibit 18.5.Based on quarterly data collected over the last 4 years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook:  , where Qtr1,Qtr2 and Qtr3 are dummy variables corresponding to Quarters 1,2 and 3.
Refer to Exhibit 18.5.By how many percent the demand in Quarter 3 is on average higher than the average quarterly demand?

Quizplus · Accepted Answer

The Answer of Exhibit 18.5.Based on quarterly data collected over the last 4 years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook:  , where Qtr1,Qtr2 and Qtr3 are dummy variables corresponding to Quarters 1,2 and 3.
Refer to Exhibit 18.5.By how many percent the demand in Quarter 3 is on average higher than the average quarterly demand?