Based on quarterly data collected over the last four years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook: = 3,305 - 665Qtr1 - 1,335Qtr2 + 305Qtr3,where Qtr1,Qtr2,and Qtr3 are dummy variables corresponding to Quarters 1,2,and 3. By what percent is the demand in Quarter 3 higher on average than the average quarterly demand?
A) 25.29%
B) 8.37%
C) 31.63%
D) 14.71%

Question

Based on quarterly data collected over the last four years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook:  = 3,305 - 665Qtr1 - 1,335Qtr2 + 305Qtr3,where Qtr1,Qtr2,and Qtr3 are dummy variables corresponding to Quarters 1,2,and 3. By what percent is the demand in Quarter 3 higher on average than the average quarterly demand?
A) 25.29% 
B) 8.37% 
C) 31.63% 
D) 14.71%

Quizplus · Accepted Answer

The Answer of Based on quarterly data collected over the last four years,the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook:  = 3,305 - 665Qtr1 - 1,335Qtr2 + 305Qtr3,where Qtr1,Qtr2,and Qtr3 are dummy variables corresponding to Quarters 1,2,and 3. By what percent is the demand in Quarter 3 higher on average than the average quarterly demand?
A) 25.29% 
B) 8.37% 
C) 31.63% 
D) 14.71%

Based on Quarterly Data Collected Over the Last Four Years,the