SCENARIO 14-12 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 whether the parking is on or off campus.The population regression model hypothesized is where Y is the meter price per hour is the number of blocks to the quad is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise The following Excel results are obtained.
-Referring to Scenario 14-12, if one is already off campus but decides to park 3 more blocks from the quad, the estimated mean parking meter rate will decrease by ____.

Question

SCENARIO 14-12 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 whether the parking is on or off campus.The population regression model hypothesized is  where Y is the meter price per hour  is the number of blocks to the quad  is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise The following Excel results are obtained. 
-Referring to Scenario 14-12, if one is already off campus but decides to park 3 more blocks from the quad, the estimated mean parking meter rate will decrease by ____.

Quizplus · Accepted Answer

The Answer of SCENARIO 14-12 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 whether the parking is on or off campus.The population regression model hypothesized is  where Y is the meter price per hour  is the number of blocks to the quad  is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise The following Excel results are obtained. 
-Referring to Scenario 14-12, if one is already off campus but decides to park 3 more blocks from the quad, the estimated mean parking meter rate will decrease by ____.

SCENARIO 14-12 as a Project for His Business Statistics Class