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

question 258

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, what is the correct interpretation for the estimated coefficient for X₂?

---

Definitions:

Goal Incompatibilities

Differing objectives that are at odds with one another, making it challenging to achieve them simultaneously.

Horizontal Conflicts

Disagreements or clashes that occur between individuals or groups at the same level within an organization's hierarchy.

Premature Judgments

The formation of opinions or decisions based on insufficient or incomplete information.

Objective Criteria

Objective criteria are quantifiable, measurable standards used to assess or evaluate performance, outcomes, or decisions without personal bias or subjectivity.