A manufacturer of summer clothing has generated the following regression model f

Question

A manufacturer of summer clothing has generated the following regression model for forecasting the number of pairs of walking shorts (in hundreds of thousands) that will be sold during the next few quarters:

where , , and are indicator variables of the form if the data are associated with Quarter otherwise This model is developed using a data set that starts in Quarter of (i.e., the first time period is associated with Quarter of ). Use this model to forecast the number of pairs of walking shorts (in hundreds of thousands) that will be sold in Quarter of . 3.4 +0. lt 0.34 Qa +0.68Q+1.020a

Explanation / Answer

For Quarter 3 of 2020, t = 34

y(34) = 3.4 + 0.1(34) - (0.34*0) + (0.68*0) + (1.02*1) = 7.82 (in hundreds of thousands)

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