SCENARIO 16-6 The President of a Chain of Department Stores Believes That

question 14

Short Answer

SCENARIO 16-6
The president of a chain of department stores believes that her stores' total sales have been showing a linear trend since 1993.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 1993 is coded as 0,1994 is coded as 1,etc.

-Referring to Scenario 16-6,the fitted trend value (in millions of dollars)for 1993 is .

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Definitions:

Z Scores

Standardized scores that indicate the number of standard deviations a data point is from the mean of its distribution.

Mean

The arithmetic average of a set of numbers, calculated by adding all the values together and dividing by the number of values.

Distribution

The way in which values of a variable or frequencies of outcomes are spread out or dispersed over a range of values.

Scores

A numerical representation of a performance, ability, or achievement.