Statistics Solutions

[Solution Library] A manufacturer of summer clothing has generated the following regression model for forecasting the number of pairs of walking shorts (in

Question: A manufacturer of summer clothing has generated the following regression model for forecasting the number of pairs of walking shorts (in hundreds of thousands) that will be sold during the next few quarters:

\[\hat{y}_{t}=4.3+0.13 t-0.43 Q_{1}+0.86 Q_{2}+1.29 Q_{3}\]

where \(Q_{1}, Q_{2}\), and \(Q_{3}\) are indicator variables of the form

\[Q_{i}=\left\{\begin{array}{l} 1 \text { if the data are associated with Quarter } i \\ 0 \text { otherwise } \end{array}\right.\]

This model is developed using a data set that starts in Quarter 3 of 2004 (i.e., the first time period \(t=1\) is associated with Quarter 3 of 2004 ). Use this model to forecast the number of pairs of walking shorts (in hundreds of thousands) that will be sold in Quarter 1 of 2012 .

Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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