Table 3. Results of estimated coefficients (Model 1) Coefficients Unstandardized

Question

Table 3. Results of estimated coefficients (Model 1) Coefficients Unstandardized Coefficients Std. Error (Constant) Trend 183.000 3.893 13.381 2.992 a. Dependent Variable: Pass 13. The demand model is specified as: Ft a0 al *Trend, where Ft total air passenger-miles (billions) and Trend-a time trend. You collected data from Quarter 1 of 2006 to Quarter 4 of 2014 (36 observations) and obtained the coefficient results (Table 3). Forecast air passenger-miles for the 2nd quarter of 2015. (decimal places: 3)

Explanation / Answer

In the above formula, the quarter 2 of 2015, the trend value would be 38,

So substituting in equation,

Ft = 183+3.893*38

= 330.934

So there would be 330.934 air passenger-miles

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