THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
You are interested in examining the factors that determine the average length of stay in a hospital across states.You collect data on the following variables:
Y = statewide average hospital stay
X₁ = median state income
X₂ = 1 if the state is in the Northeast,0 otherwise
X₃ = 1 if the state is in the South,0 otherwise
X₄ = 1 if the state is in the Midwest,0 otherwise
X₅ = 1 if the state is in the West,0 otherwise
-You run the following regression: Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄.What effect does being a state in the West have on the average length of hospital stay?

Question

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: You are interested in examining the factors that determine the average length of stay in a hospital across states.You collect data on the following variables: Y = statewide average hospital stay X 1 = median state income X 2 = 1 if the state is in the Northeast,0 otherwise X 3 = 1 if the state is in the South,0 otherwise X 4 = 1 if the state is in the Midwest,0 otherwise X 5 = 1 if the state is in the West,0 otherwise -You run the following regression: Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄.What effect does being a state in the West have on the average length of hospital stay? A)β₅ B)β₀β₅ C)β₀ D)Cannot determine the answer with this specification