Question

We have seen that gas prices can fluctuate. But during some periods they have moved consistently. Here are the data extracted for one week of each month from January 2002 to May 2007.
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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  • CreatedMay 15, 2015
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