The Estimated Regression Equation Is Y_t = 448 + 12t

question 23

Multiple Choice

The estimated regression equation is y_t = 448 + 12t + 18 Qtr1 - 26 Qtr2 + 3 Qtr3.The regression model has three quarterly binaries.The model was fitted to 12 periods of quarterly data starting with the first quarter) .Why is there no fourth quarterly binary for Qtr4?

• A) Because the researcher made a mistake (we need binaries for all four quarters)
• B) Because it is unnecessary (its value is implied by the other three binaries)
• C) Because the fourth quarter binary is assumed to be the same as the first quarter
• D) Because there is no seasonality in the fourth quarter in most time series

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