Use the data of Problem 6.11 but estimate the following model: Salest = B1Dit + B2D2t +
Question:
Salest = B1Dit + B2D2t + B3D3t + B4D4t + ut
In this model there is a dummy assigned to each quarter.
a. How does this model differ from the one given in Problem 6.11?
b. To estimate this model, will you have to use a regression program that sup-presses the intercept term? In other words, will you have to run a regression through the origin?
c. Compare the results of this model with the previous one and determine which model you prefer and why.
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Step by Step Answer:
a Sa es 930412 D 1t 989078 D 2t 988021 D 3t 2268521 D 4t t 215983 229602 22251 510885 ...View the full answer
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