TABLE 17-7
As a project for his business statistics class,a student examined the factors that determined parking meter rates throughout the campus area.Data were collected for the price per hour of parking,blocks to the quadrangle,and one of the three jurisdictions: on campus,in downtown and off campus,or outside of downtown and off campus.The population regression model hypothesized is
Y i = α + β 1 X 1 i + β 2 X 2 i + β 3 X 3 i + ε
where
Y is the meter price
X 1 is the number of blocks to the quad
X 2 is a dummy variable that takes the value 1 if the meter is located in downtown and off campus and the value 0 otherwise
X 3 is a dummy variable that takes the value 1 if the meter is located outside of downtown and off campus,and the value 0 otherwise
The following Excel results are obtained.
-Referring to Table 17-7,predict the meter rate per hour if one parks outside of downtown and off campus 3 blocks from the quad.
A)-$0.0139
B)$0.2589
C)$0.2604
D)$0.4981

Question

TABLE 17-7
As a project for his business statistics class,a student examined the factors that determined parking meter rates throughout the campus area.Data were collected for the price per hour of parking,blocks to the quadrangle,and one of the three jurisdictions: on campus,in downtown and off campus,or outside of downtown and off campus.The population regression model hypothesized is
Y i  = α + β 1 X 1 i + β 2 X 2 i + β 3 X 3 i + ε
where
Y is the meter price
X 1 is the number of blocks to the quad
X 2 is a dummy variable that takes the value 1 if the meter is located in downtown and off campus and the value 0 otherwise
X 3 is a dummy variable that takes the value 1 if the meter is located outside of downtown and off campus,and the value 0 otherwise
The following Excel results are obtained. 
-Referring to Table 17-7,predict the meter rate per hour if one parks outside of downtown and off campus 3 blocks from the quad.
A)-$0.0139 
B)$0.2589 
C)$0.2604 
D)$0.4981

Quizplus · Accepted Answer

The Answer of TABLE 17-7
As a project for his business statistics class,a student examined the factors that determined parking meter rates throughout the campus area.Data were collected for the price per hour of parking,blocks to the quadrangle,and one of the three jurisdictions: on campus,in downtown and off campus,or outside of downtown and off campus.The population regression model hypothesized is
Y i  = α + β 1 X 1 i + β 2 X 2 i + β 3 X 3 i + ε
where
Y is the meter price
X 1 is the number of blocks to the quad
X 2 is a dummy variable that takes the value 1 if the meter is located in downtown and off campus and the value 0 otherwise
X 3 is a dummy variable that takes the value 1 if the meter is located outside of downtown and off campus,and the value 0 otherwise
The following Excel results are obtained. 
-Referring to Table 17-7,predict the meter rate per hour if one parks outside of downtown and off campus 3 blocks from the quad.
A)-$0.0139 
B)$0.2589 
C)$0.2604 
D)$0.4981

TABLE 17-7 As a Project for His Business Statistics Class,a Student Examined