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

question 312

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 = $\alpha$ + $\beta$ ₁ X_1i + $\beta$ 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,predict the meter rate per hour if one parks outside of downtown and off campus 3 blocks from the quad.

• A)$-0.0139
• B)$0.2589
• C)$0.2604
• D)$0.4981

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