A financial analyst would like to determine whether the return on Fidelity’s Magellan mutual fund varies depending on the quarter; that is, if there is a seasonal component describing return. He collects 10 years of quarterly return data. A portion is shown in the accompanying table; the entire data set, labeled Magellan_dummy, can be found on the text website.,a. Estimate y = ?0 + ?1d1 + ?2d2 + ?3d3 + where y is Magellan’s quarterly return, d1 is a dummy variable that equals 1 if quarter 1 and 0 otherwise, d2 is a dummy variable that equals 1 if quarter 2 and 0 otherwise, and d3 is a dummy variable that equals 1 if quarter 3 and 0 otherwise.,b. At the 10% significance level, can we conclude that Magellan’s stock return varies by season?Explain.

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