An analyst uses quarterly data to study the relationship between retail sales (y, in $ millions), gross national product (x, in $ billions), and a dummy variable d that equals 1 if the sales are for the 4th quarter; 0 otherwise. He estimates the model y = β0 + β1x + β2d + . Relevant regression results are shown in the accompanying table.

Interpret the dummy variable d. Is it significant at the 5%level?

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Intercept 186553.3 55.0 112605.8 Coefficients Standard Error tStat p-value 3.31 0.0021 12.08 0.0000 0.96 0.3424 56421.1 4.6 117053.0