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TABLE 13-12 As a Project for His Business Statistics Class, a Student

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TABLE 13-12
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 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 = α + β1X1i + β2X2i + β3X3i + ε
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 Microsoft Excel results are obtained.
TABLE 13-12 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 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 = α + β1X1i + β2X2i + β3X3i + ε 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 Microsoft Excel results are obtained.    -Referring to Table 13-12, if one is already outside of downtown and off campus but decides to park three more blocks from the quad, the estimated mean parking meter rate will A)  decrease by 0.0045. B)  decrease by 0.0135. C)  decrease by 0.0139. D)  decrease by 0.4979.
-Referring to Table 13-12, if one is already outside of downtown and off campus but decides to park three more blocks from the quad, the estimated mean parking meter rate will

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Definitions:

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A system of concepts and assumptions that explain the divergence of individuals' psychological traits, patterns of thought, and behaviors.

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