A Consulting Firm Estimates the Following Quarterly Sales Forecasting Model $Q _ { t } = a + b t + c D$

question 17

Multiple Choice

A consulting firm estimates the following quarterly sales forecasting model: $Q _ { t } = a + b t + c D$ The equation is estimated using quarterly data from 20010I-2020III (t = 1,...,43) .The variable D is a dummy variable for the second quarter where: D = 1 in the second quarter,and 0 otherwise.
The results of the estimation are: Given the above,these estimates indicate that the second quarter change in sales is

• A)22.5 units higher in the second quarter than in the other three quarters.
• B)1.86 units higher in the second quarter than in the other three quarters.
• C)2.00 units higher in the second quarter than in the other three quarters.
• D)24.5 units higher in the second quarter than in the other three quarters.

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Definitions:

Df

Abbreviation for degrees of freedom, indicating the number of values in a final calculation of a statistic that are free to vary.

Critical Value

A threshold value in hypothesis testing, beyond which the null hypothesis is rejected, determined by the chosen significance level.

Df

Df, or degrees of freedom, often used in statistical analysis, is the number of independent pieces of information available to estimate another piece of information.

Mean Square

A statistical measure used primarily in the context of ANOVA, representing the average of the squares of differences from the mean, indicative of variance.