The Linear Regression Trend Model Was Applied to a Time

question 82

Essay

The linear regression trend model was applied to a time series sales data based on the last 24 months' sales.The following partial computer output was obtained. $$\begin{array} { l l l l } \text { Variable } & \text { Estimate } & \mathrm { T } & \text { Prob. } \\\text { Intercept } & 198.03 & 14.84 & .0001 \\\text { Time } & 8.07 & 8.65 & .0001\end{array}$$
-Test the significance of the time term at ? =.05.State the critical t value and make your decision using a two-sided alternative.

Comprehend the effects of price changes on supply and demand.

Analyze the impact of supply and demand shifts on market equilibrium.

Recognize the concept of equilibrium price and quantity in the market.

Understand the outcomes of market disequilibrium.

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Definitions:

Real Exchange Rate

A measure of the value of one currency in terms of another, adjusted for differences in price levels between countries.

Argentinean Pesos

The official currency of Argentina, abbreviated as ARS, used for all types of financial transactions within the country.

Gallon of Milk

A unit of measurement for liquid volume, specifically used to measure the quantity of milk.

Nominal Exchange Rate

The value of one currency in terms of another currency without adjustment for inflation or purchasing power parity.