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Multiple Regression and Predicting Gasoline Consumption

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Given the following gasoline consumption data:

Quarter Year 1 Year 2 Year 3
1 150 156 175
2 140 148 156
3 185 201 208
4 160 175 185

(a) Estimate a multiple regression with trend and seasonal dummy variables.

(b) Predict gasoline consumption for every quarter in the fourth year.

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Solution Summary

This solution addresses the problem of estimating multiple regression with trend and seasonal dummy variables and how to calculate gasoline consumption based on previous data.

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