TABLE 14-12
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 whether the parking is on or off campus.The population regression model hypothesized is Y i = α + β 1 X 1 i + β 2 X 2 i + ε
where
Y is the meter price per hour.
X 1 is the number of blocks to the quad.
X 2 is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise.
The following Excel results are obtained.
-Referring to Table 14-12,predict the cost per hour if one parks off campus and 3 blocks from the quad.

Question

TABLE 14-12
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 whether the parking is on or off campus.The population regression model hypothesized is Y i = α + β 1 X 1 i + β 2 X 2 i + ε
where
Y is the meter price per hour.
X 1 is the number of blocks to the quad.
X 2 is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise.
The following Excel results are obtained. 
-Referring to Table 14-12,predict the cost per hour if one parks off campus and 3 blocks from the quad.

Quizplus · Accepted Answer

The Answer of TABLE 14-12
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 whether the parking is on or off campus.The population regression model hypothesized is Y i = α + β 1 X 1 i + β 2 X 2 i + ε
where
Y is the meter price per hour.
X 1 is the number of blocks to the quad.
X 2 is a dummy variable that takes the value 1 if the meter is located on campus and 0 otherwise.
The following Excel results are obtained. 
-Referring to Table 14-12,predict the cost per hour if one parks off campus and 3 blocks from the quad.

TABLE 14-12 As a Project for His Business Statistics Class,a Student Examined