The president of a chain of department stores believes that her stores\' total s

Question

The president of a chain of department stores believes that her stores' total sales have been showing a linear trend since 1993. She uses Microsoft Excel to obtain the partial output below. The dependent variable is sales (in millions of dollars), while the independent variable is coded years, where 1993 is coded as 0, 1994 is coded as 1, etc. SUMMARY OUTPUT Regression Statistics Multiple R 0 604 R Square 0.365 Adjusted R Square 0.316 Standard Error 4.800 Observations 17 Coefficients Intercept 31.2 Coded Year 0.78 Referring to Scenario 16-6, the fitted trend value (in millions of dollars) for 1993 is

Explanation / Answer

Y = 31.2+ 0.78t

Where Y is Sales and

t is coded year

For 1993, the the value of t is = 0

The fitted trend value (in millions of dollars) for 1993 is 31.2

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