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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 173

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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: 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 = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε,where Y is the monthly dollar value spent on groceries,X<sub>1</sub> is the household's monthly income,X<sub>2</sub> is the number of people living in the household,and X<sub>3</sub><sub> </sub>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 + 0.048x<sub>1</sub> + 33.1x<sub>2</sub> + 43.2x<sub>3</sub>. -How should the researcher interpret the coefficient of the dummy variable? A) Households with both adults working approximately spend $43.20 on groceries,under the assumption that all the other independent variables in the model are held constant. B) Households with both adults working spend,on average,$43.20 less than other households,under the assumption that all the other independent variables in the model are held constant. C) Households with both adults working spend,on average,$43.20 more than other households,under the assumption that all the other independent variables in the model are held constant. D) There is no difference between the types of households and their spending on groceries,under the assumption that all the other independent variables in the model are held constant.
= 172.1 + 0.048x1 + 33.1x2 + 43.2x3.
-How should the researcher interpret the coefficient of the dummy variable?

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Identify the designations and symbols used in fit specifications.
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Definitions:

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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