## Managerial Economics Study Set 1

Business

## Quiz 7 :

Demand Estimation and Forecasting

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Q17 Q17 Q17

the 1 percent level of significance, the number of degrees of freedom for a ttest is _____, and the critical value of the tstatistic is ________. Only parameter estimate(s) ________ is (are) NOT statistically significant at the 1 percent level of significance.

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Multiple Choice

Q67 Q67 Q67

forecaster used the following regression equation and quarterly sales data during 2005II 2013IV (t = 1, ..., 35) for an appliance manufacturer to obtain the estimation results shown below. Q is quarterly sales, and ,and are seasonal dummy variables for quarters I, II, and III.
a. At the 2 percent level of significance, the critical value of the t-statistic is _______.
The parameter estimate of a ________ (is, is not) statistically significant.
The parameter estimate of b ________ (is, is not) statistically significant.
The parameter estimate of
________ (is, is not) statistically significant.
The parameter estimate of
________ (is, is not) statistically significant.
The parameter estimate of
________ (is, is not) statistically significant.
b. The statistical estimates indicate a(n) ___________ (upward, downward) trend in sales of _________ units per quarter year.
c. The estimated intercepts for each of the four quarters are:
Intercept for quarter 1 is __________.
Intercept for quarter 2 is __________.
Intercept for quarter 3 is __________.
Intercept for quarter 4 is __________.
d. The forecasted sales for the 1

^{st}quarter of 2014 are ___________ units. The forecasted sales for the 2^{nd}quarter of 2014 are ___________ units. The forecasted sales for the 3^{rd}quarter of 2014 are ___________ units. The forecasted sales for the 4^{th}quarter of 2014 are ___________ units.Free

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