An analyst studies quarterly data on the relationship between retail sales (y, in $ millions), gross national

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An analyst studies quarterly data on the relationship between retail sales (y, in $ millions), gross national product (x, in $ billions), and a quarterly dummy d that equals 1 if the sales are for the 4th quarter, 0 otherwise. He estimates the model y = ?0 + ?1x + ?2d + ?3xd + ?. Relevant regression results are shown in the accompanying table.

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a. Interpret the dummy variable, d. Is it significant at the 5% level?

b. Interpret the interaction variable. Is it significant at the 5% level?

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