TABLE 16-8
the President of a Chain of Department $\text {SUMMARY OUTPUT}$

question 40

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.
$\text {SUMMARY OUTPUT}$

$\begin{array}{lr}\text { Regression Statistics }\\\text { Multiple R } & 0.604 \\\text { R Square } & 0.365 \\\text { Adjusted R Square } & 0.316 \\\text { Standard Error } & 4.800 \\\text { Observations } & 17\end{array}$

$\begin{array}{lc} & \text { Coefficients } \\\text { Intercept } & 31.2 \\\text { Coded Year } & 0.78\end{array}$
-Referring to Table 16-8, the estimate of the amount by which sales (in millions of dollars) is increasing each year is______ .

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Definitions:

Dynamic Pricing

A pricing strategy where prices fluctuate based on real-time supply and demand, competitor pricing, or other market factors.

Customer Demand

Refers to the quantity of a product or service that consumers are willing and able to purchase at a given price within a specified period.

Mason Jars

Glass jars that are typically used for preserving and storing food, but also popular for crafts and decoration.

Club Sponsor

An individual or organization that provides support, often financial, to a club, usually in exchange for advertising or promotional benefits.