TABLE 16-8
the President of a Chain of Department

question 88

Short Answer

TABLE 16-8
The president of a chain of department stores believes that her stores' total sales have been showing a linear trend since 1980. She uses Microsoft Excel to obtain the partial output below. The dependent variable is sales (in millions of dollars), while the independent variable is coded years, where 1980 is coded as 0, 1981 is coded as 1, etc.
$\begin{array} { |l l| }\hline \text {SUMMARY}\\ \text {OUTPUT}\\ \text {Regression Statistics}\\ \text { MultipleR } & 0.604 \\ \text { R Square } & 0.365 \\ \text { Adjusted R Square } & 0.316 \\ \text { Standard Error } & 4.800 \\ \text { Observations } & 17\\\\\text {Coefficients}\\\text {Intercept} & 31.2\\\text {Coded Year }&0.78\\\hline \end{array}$

-Referring to Table 16-8, the forecast for sales (in millions of dollars) in 2000 is ______.

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Definitions:

Received

The action of being given or awarded something.

Marginal Product

the increase in output resulting from the use of one more unit of a variable input, holding all other inputs constant.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a particular input, keeping all other inputs constant.

Calculator Manufacturer

A company or entity involved in the production of calculators, ranging from basic to advanced scientific and graphing models.