Question
The manager of a marketing consulting firm has been examining his company's yearly profits. He believes that these profits have been showing a quadratic trend
The manager of a marketing consulting firm has been examining his company's yearly profits. He believes that these profits have been showing a quadratic trend since 1990. He uses Microsoft Excel to obtain the partial output below. The dependent variable is profit (in thousands of dollars), while the independent variables are coded years and squared of coded years, where 1990 is coded as 0, 1991 is coded as 1, etc. SUMMARY OUTPUT Regression Statistics
Multiple R | 0.998 |
R Square | 0.996 |
Adjusted R Square | 0.996 |
Standard Error | 4.996 |
Observations | 17 |
Coefficients |
Intercept | 35.5 |
Coded Year | 0.45 |
Year Squared | 1.00 |
Referring to the information above, the forecast for profits in 2010 is ________. (Express in $ e.g. for $10,000 enter 10000 not 10.)
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