Question: I need the answer to this please. Problem 6 (25 total points) In this problem you will work with quarterly sales data of work T-shirts

I need the answer to this please.

I need the answer to this please. Problem 6 (25 total points)

Problem 6 (25 total points) In this problem you will work with quarterly sales data of work T-shirts from a sample of 100 stores belonging to a large Retailer. The data is contained in problem6.xisx, the first column is simply a store-id (STOREID), second column contains the quarterly sales in number of T-shirts sold (SALES), the third column gives you the quarter to which these sales belong (QUARTER) and finally the fourth column tells you whether the T- shirts were on promotion or not (PROM) [PROM = 1 implying that the T-shirts were on promotion]. (a) (3 pts)You need to run a regression with SALES as your dependent variable and QUARTER & PROM as your independent variables. Note that QUARTER is a categorical variable so you need to introduce appropriate dummy variables to represent it, choose the 4rth quarter as your reference when you introduce dummy variables. That is, estimate the following regression model SALES = + AQTR1 + 8QTR2 + AQTR3 + APROM where QTR1, QTR2, QTR3 are dummy variables for the first, second and third quarters respectively. Report and interpret the estimated coefficient on QTR1

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