1.Regression was used to model quarterly electricity costs ($) for a household. Estimated Electricity Cost = 119.22+...
Question:
1.Regression was used to model quarterly electricity costs ($) for a household.
Estimated Electricity Cost = 119.22+ 9.16t + 43.48 Q1 6.94Q2 +18.4Q4
With t is in quarters and the origin is att = 0 June 2020
Q1, Q2, Q4 are dummy variables for March, June and December, respectively.
Q3 is the dummy variable for the September quarter and is the benchmark for this model.
What is the value that measures the seasonal variation of electricity cost of this household for the March quarter?Please give your answer correctly rounded to two decimal places.
2.Regression was used to model the number of visitors to a DVD store, per quarter.
Estimated Number of visitors = 155.72 8.46t 39.72 Q1 4.81Q2 + 26.6Q4
With t is in quarters and the origin is att = 0 June March 2010
Q1, Q2, Q4 are dummy variables for March, June and December, respectively.
Q3 is the dummy variable for the September quarter and is the benchmark for this model.
Which of the following is the correct interpretation of the coefficient of t?
A.The number of visitors to this DVD store is trending upwards and increase by 8.46 per quarter.
B.The number of visitors to this DVD store is trending downwards and decrease by 8.46 per quarter
C.The number of visitors to this DVD store does not change, per quarter.
D.The number of visitors to this DVD store is trending upwards and increase by 164.18 per quarter.
E.The number of visitors to this DVD store is trending downwards and decrease by 164.18 per quarter.
3.The following model forecasts the volume ofproducts sold by a company, per quarter, where t = 0 in the March quarter of 2017:
Estimated VolumeSold= 190.97 + 12.76t + 22.22Q131.81Q3+ 10.12Q4
Q1, Q3and Q4are dummy variables for the March quarter, September quarter and December quarter, respectively.
Q2is the dummy variable for June quarter and is the benchmark for this model.
Forecast the number of products sold by this company for the March quarter of 2025.Please give your answer correctly rounded to two decimal places.
4.Regression was used to model quarterly profits ($000's) of a company.
Estimated Profits = 4.5+ 7.54t + 3.96 Q1 + 4.92Q2 - 1.06Q4
Where t is in quarters and the origin is att = 0 June 2018.
Q1, Q2, Q4 are dummy variables for the quarters of March, June and December, respectively.
Q3 is the dummy variable for the September quarter and is the benchmark for this model.
What is the value that measures the trend component per quarter?Please give your answer correctly rounded to two decimal places.
Expert Answer:
