TABLE 16-8 The Manager of a Marketing Consulting Firm Has Been Examining

question 27

Short Answer

TABLE 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 1990. 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 1990 is coded as 0, 1991 is coded as 1, etc.
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.998
R Square 0.996
Adjusted R Square 0.996
Standard Error 4.996
Observations 17
Coefficients
Intercept 35.5
Coded Year 0.45
Year Squared 1.00
-Referring to Table 16-8, the forecast for profits in 2015 is ________.

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Definitions:

Social Stratification

A system by which society ranks categories of people in a hierarchy based on factors like wealth, income, race, education, and power.

Hierarchical Ranking

A system where entities are arranged in a graded order from lowest to highest based on certain criteria.

Subjective Assessments

Evaluations based on personal feelings, tastes, or opinions rather than on external facts or evidence.

Dominant Ideology

The set of beliefs, values, and norms that are most widely shared within a society, often reinforcing the current social power structure.