TABLE 14-12 As a Project for His Business Statistics Class,a Student Examined

question 294

Short Answer

TABLE 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 Y_i = α + β₁X_1i + β₂X_2i + ε
where
Y is the meter price per hour.
X₁ is the number of blocks to the quad.
X₂ 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 Table 14-12,predict the cost per hour if one parks off campus and 3 blocks from the quad.

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Definitions:

Organism's Responding

The manner in which an organism reacts to stimuli or changes in its environment.

Conditioned Response

A learned reaction to a previously neutral stimulus that occurs as a result of conditioning, typically demonstrated in Pavlov’s dog experiment.

Unconditioned Response

A spontaneous, innate response to a trigger that happens without any previous training or conditioning.

Conditioned Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.