SCENARIO 16-8
The manager of a marketing consulting firm has been examining his company's yearly profits.He believes that these profits have been showing a quadratic trend since 1994.He uses Microsoft Excel to obtain the partial output below.The dependent variable is profit (in thousands of dollars),while the independent variables are coded years and squared of coded years,where 1994 is coded as 0,1995 is coded as 1,etc.
-Referring to Scenario 16-8,the forecast for profits in 2019 is .
Definitions:
Antitrust Law
Legislation aimed at preventing anti-competitive practices, monopolies, and fostering fair competition in the market.
Product Price
The financial cost at which a good or service is sold to consumers in the market.
Deregulation
The removal of most or even all of the government regulation and laws designed to supervise an industry. Sometimes undertaken to combat regulatory capture.
Industrial Regulation
Government policies aimed at regulating the operations of industries to prevent unfair practices and ensure competition.
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