Instruction 14-13
the Manager of a Marketing Consulting Firm Has

question 7

Short Answer

Instruction 14-13
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
$\begin{array} { l r } \text { Multiple R } & 0.998 \\ \text { R Square } & 0.996 \\ \text { Adjusted R Square } & 0.996 \\ \text { Standard Error } & 4.996 \\ \text { Observations } & 17 \end{array}$
$\quad\quad\quad\quad\quad\quad\quad$ Coefficients
Intercept $\quad\quad\quad\quad\quad 35.5$
Coded Year $\quad\quad\quad\quad 0.45$
$\begin{array} { l l } \text { Year Squared } & 1.00 \end{array}$
-Referring to Instruction 14-13,the fitted value for 1995 is ________.

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Definitions:

Bananas

Commonly refers to a type of fruit, but in economic terms, it could relate to the market dynamics or trade aspects of agricultural products.

Budget Line

A graphical representation of all possible combinations of two goods that an individual can afford given the prices of the goods and the individual's income.

Decrease In Income

A reduction in the amount of money earned or received by an individual or household.

Consumer Purchases

Transactions made by individuals or households for goods and services for personal use.