Solved

SCENARIO 18-7
as a Project for His Business Statistics Class,a $\alpha$

question 6

Multiple Choice

SCENARIO 18-7
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= $\alpha$ + $\beta$ ₁X₁_i+ $\beta$ ₂X ₂_i+ $\beta$ ₃X ₃_i+ $\varepsilon$
where
Y is the meter price
X₁ is the number of blocks to the quad
X₂ 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.
$SCENARIO 18-7 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 Yi = \alpha + \beta 1 X1i + \beta 2 X 2i + \beta 3 X 3i + \varepsilon where Y is the meter price X1 is the number of blocks to the quad X2 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. -Referring to Scenario 18-7,what is the correct interpretation for the estimated coefficient for X2? A) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking on campus,and parking outside of downtown and off campus is -$0.24 per hour. B) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking on campus is -$0.24 per hour. C) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking outside of downtown and off campus is -$0.24 per hour. D) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking either outside of downtown and off campus or on campus is -$0.24 per hour.$ $SCENARIO 18-7 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 Yi = \alpha + \beta 1 X1i + \beta 2 X 2i + \beta 3 X 3i + \varepsilon where Y is the meter price X1 is the number of blocks to the quad X2 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. -Referring to Scenario 18-7,what is the correct interpretation for the estimated coefficient for X2? A) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking on campus,and parking outside of downtown and off campus is -$0.24 per hour. B) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking on campus is -$0.24 per hour. C) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking outside of downtown and off campus is -$0.24 per hour. D) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking either outside of downtown and off campus or on campus is -$0.24 per hour.$ $SCENARIO 18-7 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 Yi = \alpha + \beta 1 X1i + \beta 2 X 2i + \beta 3 X 3i + \varepsilon where Y is the meter price X1 is the number of blocks to the quad X2 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. -Referring to Scenario 18-7,what is the correct interpretation for the estimated coefficient for X2? A) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking on campus,and parking outside of downtown and off campus is -$0.24 per hour. B) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking on campus is -$0.24 per hour. C) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking outside of downtown and off campus is -$0.24 per hour. D) Holding the effect of the other independent variables constant,the estimated mean difference in costs between parking in downtown and off campus,and parking either outside of downtown and off campus or on campus is -$0.24 per hour.$
-Referring to Scenario 18-7,what is the correct interpretation for the estimated coefficient for X₂?

Definitions:

Obligation

A duty or commitment that an individual is bound to, either legally, morally, or emotionally.

Group Norms

Shared guidelines or rules of behavior that are accepted and followed by members of a group, influencing how they act and interact.

Temperaments

Physiological dispositions to respond to the environment in certain ways; they are present in infancy and in many nonhuman species and are assumed to be innate.

Personalities

The combination of characteristics or qualities that form an individual's distinctive character.

SCENARIO 18-7 as a Project for His Business Statistics Class,a α\alphaα

Definitions:

SCENARIO 18-7
as a Project for His Business Statistics Class,a $\alpha$