TABLE 16-7 The Executive Vice-President of a Drug Manufacturing Firm Believes That

question 49

Short Answer

TABLE 16-7
The executive vice-president of a drug manufacturing firm believes that the demand for the firm's most popular drug has been evidencing an exponential trend since 1995. She uses Microsoft Excel to obtain the partial output below. The dependent variable is the log base 10 of the demand for the drug, while the independent variable is years, where 1995 is coded as 0, 1996 is coded as 1, etc.
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.996
R Square 0.992
Adjusted R Square 0.991
Standard Error 0.02831
Observations 12
Coefficients
Intercept 1.44
Coded Year 0.068
-Referring to Table 16-7, the forecast for the demand in 2012 is ________.

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Definitions:

Multiculturalism

A societal approach that recognizes, values, and promotes the diversity of cultural backgrounds and traditions within a given community or country.

Semiotics

The study of signs and symbols and their use or interpretation, often applied in the analysis of language, literature, and culture.

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refers to the fundamental cognitive orientation of an individual or society encompassing the entirety of the individual or society's knowledge and point of view.

Praxeology

Praxeology is the study of human action and conduct, particularly in the context of economic theories, focusing on the logical implications of human choice and behavior.