SCENARIO 18-7 as a Project for His Business Statistics Class

question 52

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 where Y is the meter price is the number of blocks to the quad is a dummy variable that takes the value 1 if the meter is located in downtown and off campus and the value 0 otherwise 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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