You own a restaurant near the beach. Business has been growing each year, but obviously spikes during the summer months. A regression produces the following equation: M = 30,000 + 530t + 1,000S Where M is monthly sales, t is years past 2010, and S is a dummy variable for the summer months. If the month is June, July, or August, insert a "T". If not, the value for S is zero. What are the predicted sales for June 2026? Enter as a value.

You own a restaurant near the beach. Business has been growing each year, but obviously spikes during the summer months. A regression produces the following equation: M = 30,000 + 530t + 1,000S Where M is monthly sales, t is years past 2010, and S is a dummy variable for the summer months. If the month is June, July, or August, insert a "T". If not, the value for S is zero. What are the predicted sales for June 2026? Enter as a value.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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