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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A researcher is interested in determining the monthly household expenditures on groceries.He models the relationship as follows: Y = β0 + β1X1 + β2X2 + β3X3 + ε,where Y is the monthly dollar value spent on groceries,X1 is the household's monthly income,X2 is the number of people living in the household,and X3 is a dummy variable = 1 if both the adults in the household work.Taking a sample of 250 households,the researcher gets the following results:
= 172.1 + 0.048x1 + 33.1x2 + 43.2x3.
-How should the researcher interpret the coefficient of the dummy variable?
Globalization
The process of interaction and integration among people, companies, and governments worldwide, often leading to increased connectivity and interdependence of the world's markets and businesses.
Homogenizing Effects
The process by which dominant cultures or ideas begin to diminish or eliminate cultural differences, leading to a more uniform or similar society.
Modernization Theorists
Scholars who focus on the process and impact of modernization, typically emphasizing the transition from traditional to modern societies and its effects.
Multinational Corporations
Large business organizations that operate in multiple countries, often exerting significant economic and political influence in the global market.
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