TABLE 16-6 The President of a Chain of Department Stores Believes That

Short Answer

TABLE 16-6
The president of a chain of department stores believes that her stores' total sales have been showing a linear trend since 1993.She uses Microsoft Excel to obtain the partial output below.The dependent variable is sales (in millions of dollars),while the independent variable is coded years,where 1993 is coded as 0,1994 is coded as 1,etc.
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.604
R Square 0.365
Adjusted R Square 0.316
Standard Error 4.800
Observations 17
Coefficients
Intercept 31.2
Coded Year 0.78
-Referring to Table 16-6,the fitted trend value (in millions of dollars)for 1998 is ________.