The Linear Regression Trend Model Was Applied to a Time

question 21

Essay

The linear regression trend model was applied to a time series of sales data based on the last 16 months of sales.The following partial computer output was obtained: $$\begin{array} { l c l l } & \text { Variable } & \text { Estimate } & \text { T Prob. } \\\text { Intercept } & 18.100 & 4.45 & .001 \\\text { Time } & 3.2456 & 7.71 & .000\end{array}$$
-What is the predicted value of y when t = 17?

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Definitions:

Misc. Revenue

Miscellaneous revenue refers to income generated from activities not central to a business’s main operations.

Change Fund

Fund made up of various denominations that are used to make change for customers.

Contra-Asset

A contra-asset account is an asset account where the account balance is a negative amount. It's used to offset the value of the asset account it is associated with, such as accumulated depreciation.

Cash Register Tapes

Physical or electronic records produced by cash registers, detailing each transaction made within a business.