refer to the following: The manufacturer of Beanie Baby dolls used quarterly price data for 2002I - 2010IV (t = 1, ..., 36) and the regression equation to forecast doll prices in the year 2011. PS1U1B1tS1U1B0 is the quarterly price of dolls, and D1S1U1B1tS1U1B0 , D2S1U1B1tS1U1B0 and D3S1U1B1tS1U1B0 are dummy variables for quarters I, II, and III, respectively. -Using the estimated time-series regression, predicted price in the 2nd quarter of 2011 is

A) $48.40 B) $54.40 C) $40.40 D) $51.40 E) none of the above A) $48.40 B) $54.40 C) $40.40 D) $51.40 E) none of the above

refer to the following: A forecaster used the regression equation and quarterly sales data for 1993I-2010IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and DS1U1B11S1U1B0, DS1U1B12S1U1B0and DS1U1B13S1U1B0are dummy variables for quarters I, II, and III. -Using the estimation results given above, the predicted level of sales in 2011III is _______ units.

A) 141.5 B) 156 C) 172 D) 173.5 E) none of the above A) 141.5 B) 156 C) 172 D) 173.5 E) none of the above

refer to the following: A forecaster used the regression equation and quarterly sales data for 1993I-2010IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and DS1U1B11S1U1B0, DS1U1B12S1U1B0and DS1U1B13S1U1B0are dummy variables for quarters I, II, and III. -Using the estimation results given above, the predicted level of sales in 2011IV is _______ units.

A) 125 B) 127.50 C) 132 D) 133.5 E) none of the above A) 125 B) 127.50 C) 132 D) 133.5 E) none of the above

Exam 7: Demand Estimation and Forecasting

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refer to the following: The manufacturer of Beanie Baby dolls used quarterly price data for 2002I - 2010IV (t = 1, ..., 36) and the regression equation to forecast doll prices in the year 2011. P_t is the quarterly price of dolls, and D1_t , D2_t and D3_t are dummy variables for quarters I, II, and III, respectively. -Using the estimated time-series regression, predicted price in the 2nd quarter of 2011 is

(Multiple Choice)

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Question 61

refer to the following: A forecaster used the regression equation and quarterly sales data for 1993I-2010IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D₁, D₂and D₃are dummy variables for quarters I, II, and III. -Using the estimation results given above, the predicted level of sales in 2011III is _______ units.

(Multiple Choice)

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Question 62

refer to the following: The estimated demand for a good is where Q is the quantity demanded of the good, P is the price of the good, M is income, and is the price of related good R. -The good is

(Multiple Choice)

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Question 63

refer to the following: A forecaster used the regression equation and quarterly sales data for 1993I-2010IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D₁, D₂and D₃are dummy variables for quarters I, II, and III. -Using the estimation results given above, the predicted level of sales in 2011IV is _______ units.

(Multiple Choice)

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Question 64

A linear trend equation for sales of the form was estimated using annual sales data for the period 2000 - 2007 (i.e., t = 2000, 2001, ..., 2007). The results of the regression are as follows: -In the year 2008, sales are forecasted to be ___________ units.

(Short Answer)

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Question 65

suppose income remains at $10,000 but the price of the related good increases to $60 and Conlan decides to raise the price of its product to $50. -What is the new own price elasticity of demand?

(Multiple Choice)

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Question 66

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refer to the following: The estimated demand for a good is where Q is the quantity demanded of the good, P is the price of the good, M is income, and is the price of related good R. -The good is

A linear trend equation for sales of the form was estimated using annual sales data for the period 2000 - 2007 (i.e., t = 2000, 2001, ..., 2007). The results of the regression are as follows: -In the year 2008, sales are forecasted to be ___________ units.

suppose income remains at $10,000 but the price of the related good increases to $60 and Conlan decides to raise the price of its product to $50. -What is the new own price elasticity of demand?

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