TABLE 14-13
as a Project for His Business Statistics $Y_{i}=\alpha+\beta_{1} X_{1 i}+\beta_{2} X_{2 i}+\beta_{3} X_{3 i}+\varepsilon$

question 32

Multiple Choice

TABLE 14-13
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
$Y_{i}=\alpha+\beta_{1} X_{1 i}+\beta_{2} X_{2 i}+\beta_{3} X_{3 i}+\varepsilon$
where Y is the meter price;
^X1 ^{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;
^X3 ^{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.
$\begin{array}{lc}\hline \text {Regression Statistics } \\\hline \text {Multiple R} & 0.9659 \\ \text {R Square}& 0.9331 \\ \text {Adjusted R Square} & 0.9294 \\ \text {Standard Error }& 0.0327 \\ \text {Observations} & 58 \\\hline\end{array}$

ANOVA
$\begin{array}{lrcccr}\hline & \text { d f } & \text { SS} & \text { M S } & \text { F }& \text { Significance F }\\\hline \text { Regression} & 3 & 0.8094 & 0.2698 & 251.1995 & 1.0964 \mathrm{E}-31 \\ \text { Residual }& 54 & 0.0580 & 0.0010 & & \\ \text { Total} & 57 & 0.8675 & & & \\\hline\end{array}$

$\begin{array}{lcccl}\hline & \text { Coefficients} & \text {Standard Error }& \text {t Stat }& \text { p-value} \\\hline \text {Intercept} & 0.5118 & 0.0136 & 37.4675 & 2.4904 \\\mathrm{X1 } & -0.0045 & 0.0034 & -1.3276 & 0.1898 \\\mathrm{X2 } & -0.2392 & 0.0123 & -19.3942 & 5.3581 \mathrm{E}-26 \\\mathrm{X3 } & -0.0002 & 0.0123 & -0.0214 & 0.9829 \\\hline\end{array}$


-Referring to Table 14-13, predict the meter rate per hour if one parks outside of downtown and off campus 3 blocks from the quad.

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