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(b) The output in Exhibit 13 below shows the Gold Prices fr The variables included are: Y variable: o Price: = Gold Price ($) per

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(b) The output in Exhibit 13 below shows the Gold Prices fr The variables included are: Y variable: o Price: = Gold Price ($) per 10 grams. X variables: o Time: number of quarters since Q1 2014 to Q4 2021. . Quarter 1: = 1 if the quarter is from January to March and 0 otherwise. Quarter 2: = 1 if the quarter is from April to June and 0 otherwise. . Quarter 3: = 1 if the quarter is from July to September and 0 otherwise. . Quarter 4: = 1 if the quarter is from September to December and 0 otherwise. Exhibit 13 SUMMARY OUTPUT Regression Statistics Multiple R 0.865990 R Square 0.749938 Adjusted R Square 0.712892 Standard Error 4438.9350 Observations 32 ANOVA SS MS F Significance F Regression 4 1595511978 398877994 20.24336 8.316E-08 Residual 27 532011894.3 19704144 Total 31 2127523872 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 21525.4732 2027.8956 10.6147 3.89E-11 17364.5752 25686.3712 Time 766.1162 85.6178 8.9481 1.46E-09 590.4429 941.7894 Q2 41.8803 2221.1183 0.0189 0.985095 4515.4780 4599.2386 Q3 312.1699 2226.0633 0.1402 0.889516 -4255.3346 4879.6745 Q4 581.8991 2234.2806 -0.2604 0.796499 -5166.2642 4002.4660(vi). Using the model, predict the Gold price for Quarter 2 in 2022. To do so: First, write down the value for the "Time" variable. [Hint: Time = 1 in Qtr 1 2014] Second, write down the value for each of the Quarterly dummy variables for Quarter 2 2022. Third write down the equation substituting these quarterly dummy values in the model (equation) to predict the Gold price for Quarter 2 2022

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