We have seen that gas prices can fluctuate. But during some periods they have moved consistently. Here
Question:
The bend in the plot and the increasing variation suggest a multiplicative model. Here is a multiplicative model with seasonal dummy variables for months.
a) Interpret the slope.
b) Interpret the intercept.
c) In what month of the year are gas prices highest?
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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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