Based on quarterly data collected over the last five years,the following regression equation was found to forecast the quarterly demand for the number of new copies of a business statistics textbook:
= 2,298 - 6635Qtr1 - 1,446Qtr2 + 303Qtr3 + 26t,where Qtr1,Qtr2,and Qtr3 are dummy variables corresponding to Quarters 1,,2 and 3,and t = time period. For a given year,the demand in Quarter 4 is on average ___________.
A) 741 copies higher than in Quarter 1
B) 663 copies higher than in Quarter 1
C) 741 copies lower than in Quarter 1
D) 663 copies lower than in Quarter 1
Correct Answer:
Verified
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