A linear trend equation for sales of the form

Qt=a+bt

was estimated using annual sales data for the period 2003 - 2010 (i.e.,t= 2003, 2004, ..., 2010). The results of the regression are as follows:

Dependent Variable: 2 F-ratio p-value on F

Observations: 8 0.7034 14.23 0.0093

Variable Parameter Estimate Standard Error t-ratio pvalue

Intercept -23,024,200 8,122,205 -2.83 0.0298

t 12,045 6,075 1.98 0.0947

The statistical estimates indicate a(n) ___________ (upward, downward) trend in sales of _________ units per year.

Select one:

a.Upward; 6,075

b.Downward; 23,024,200

c.Upward; 70.34%

d.Upward; 12,045