THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: You are interested in determining the number of hours that college students spend studying each week.You identify the following variables: Y = number of hours spent studying each week X 1 = 1 if the student is a freshman,0 otherwise X 2 = 1 if the student is a sophomore,0 otherwise X 3 = 1 if the student is a junior,0 otherwise X 4 = 1 if the student is a senior,0 otherwise X 5 = 1 if the student is a business major,0 otherwise X 6 = 1 if the student is an arts and sciences major,0 otherwise X 7 = 1 if the student is an engineering major,0 otherwise -Which of the following regression models would work for the indicators provided? A)Y = β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + β₅X₅ + β₆X₆ B)Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + β₅X₅ + β₆X₆ +β₇X₇ +ε_i C)Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₅X₅ + β₆X₆ + ε_i D)Y = β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + β₅X₅ + β₆X₆ +β₇X₇ + ε_i

Question

Quizplus · Accepted Answer

The model includes an intercept (β₀) and all the independent variables (X₁, X₂, X₃, X₄, X₅, X₆, X₇) as well as an error term (ε_i). This model is appropriate for the given indicators because it allows for the estimation of the effect of each independent variable on the dependent variable while controlling for the other independent variables.