The manufacturer of Beanie Baby dolls used quarterly price data for 2012/-2020/V(t = 1, ..., 36) and the regression equation Pt = a + bt+c₁D1t+c2D2+ + c3D3 t to forecast doll prices in the year 2021. Pt is the quarterly price of dolls, and D1, D2t, and D3, are dummy variables for quarters I, II, and III, respectively. DEPENDENT VARIABLE: PT R-SQUARE P-VALUE ON F 0.0001 OBSERVATIONS: F-RATIO 76.34 STANDARD 36 0.9078 PARAMETER ESTIMATE ERROR T-RATIOP-VALUE VARIABLE INTERCEPT 24.0 6.20 3.87 0.0005 T 0.8 0.240 3.33 0.0022 D1 -8.0 2.60 -3.08 0.0043 D2 -6.0 1.80 -3.33 0.0022 D3 -4.0 0.60 -6.67 0.0001 The estimated quarterly increase in price is and the estimated annual increase in price is Multiple Choice O $1.50; $6.00 $1.40; $4.00 $0.60; $2.40 $0.80; $3.20 None of the choices are correct.

The manufacturer of Beanie Baby dolls used quarterly price data for 2012/-2020/V(t = 1, ..., 36) and the regression equation Pt = a + bt+c₁D1t+c2D2+ + c3D3 t to forecast doll prices in the year 2021. Pt is the quarterly price of dolls, and D1, D2t, and D3, are dummy variables for quarters I, II, and III, respectively. DEPENDENT VARIABLE: PT R-SQUARE P-VALUE ON F 0.0001 OBSERVATIONS: F-RATIO 76.34 STANDARD 36 0.9078 PARAMETER ESTIMATE ERROR T-RATIOP-VALUE VARIABLE INTERCEPT 24.0 6.20 3.87 0.0005 T 0.8 0.240 3.33 0.0022 D1 -8.0 2.60 -3.08 0.0043 D2 -6.0 1.80 -3.33 0.0022 D3 -4.0 0.60 -6.67 0.0001 The estimated quarterly increase in price is and the estimated annual increase in price is Multiple Choice O $1.50; $6.00 $1.40; $4.00 $0.60; $2.40 $0.80; $3.20 None of the choices are correct.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.4: Linear Regression

Problem 12SBE: Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4

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Question

The manufacturer of Beanie Baby dolls used quarterly price data for 2012/-2020/V (t = 1, ..., 36) and the regression equation
Pt= a + bt+c₁D1 t + c2 D2 + + c3 D3 t
to forecast doll prices in the year 2021. Pt is the quarterly price of dolls, and D1, D2t, and D3+ are dummy variables for quarters I, II, and III, respectively.
DEPENDENT VARIABLE: PT R-SQUARE
P-VALUE ON F
0.0001
OBSERVATIONS:
F-RATIO
76.34
STANDARD
36 0.9078
PARAMETER
VARIABLE
ESTIMATE
ERROR
T-RATIOP-VALUE
INTERCEPT
24.0
6.20
3.87 0.0005
T
0.8
0.240
3.33 0.0022
D1
-8.0
2.60
-3.08
0.0043
D2
-6.0
1.80
-3.33
0.0022
D3
-4.0
0.60
-6.67
0.0001
The estimated quarterly increase in price is
and the estimated annual increase in price is
Multiple Choice
O
O
$1.50; $6.00
$1.40; $4.00
$0.60; $2.40
$0.80; $3.20
None of the choices are correct.

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