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Let Y = Sales at a Fast Food Outlet (1000's x1=x _ { 1 } =

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Let y = sales at a fast food outlet (1000's of $), x1=x _ { 1 } = number of competing outlets within a 1-mile radius, x2=x _ { 2 } = the population within a 1-mile radius (1000's of people), and x3x _ { 3 } be an indicator variable that equals 1 if the outlet has a drive-up window and 0 otherwise. Suppose that the true regression model is Y=10.001.2x1+7.0x2+15.4x3+εY = 10.00 - 1.2 x _ { 1 } + 7.0 x _ { 2 } + 15.4 x _ { 3 } + \varepsilon
a. What is the mean value of sales when the number of competing outlets is 2, there are 8000 people within a 1-mile radius, and outlet has a drive-up window?
b. What is the mean value of sales for an outlet without a drive-up window that has three competing outlets and 5000 people within a 1-mile radius?
c. Interpret β3.\beta _ { 3 } .

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