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 1990. 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 1990 is coded as 0, 1991 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 forecast for sales (in millions of dollars) in 2015 is ________.