Based on Quarterly Data Collected Over the Last Four Years

question 41

Multiple Choice

Based on quarterly data collected over the last four years, the following regression equation was found to forecast the quarterly demand for the number of new copies of an economics textbook: _t = 3,305 - 665Qtr1 - 1,335Qtr2 + 305Qtr3, where Qtr1, Qtr2, and Qtr3 are dummy variables corresponding to Quarters 1, 2, and 3. The demand forecast for Quarter 2 of the next year is ________.

• A) 2,640
• B) 1,970
• C) 3,610
• D) 3,305

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Definitions:

Gatorade

A brand of sports drinks that is marketed to hydrate and replenish electrolytes in athletes and active individuals.

Need

A basic requirement or necessity for survival or achieving a particular outcome.

Want

An expressed desire or wish for something that is not necessary for survival but may enhance the quality of life or provide satisfaction in some way.

Place

In marketing, refers to the distribution aspect and making the product available to the customer at the right location.