TABLE 14-13
as a Project for His Business $Y_{i}=\alpha+\beta_{1} X_{1 i}+\beta_{2} X_{2 i}+\beta_{3} X_{3 i}+\varepsilon$

Multiple Choice

TABLE 14-13
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 one of the three jurisdictions: on campus, in downtown and off campus, or outside of downtown and off campus. The population regression model hypothesized is
$Y_{i}=\alpha+\beta_{1} X_{1 i}+\beta_{2} X_{2 i}+\beta_{3} X_{3 i}+\varepsilon$


where Y is the meter price;
^X1 ^{is the number of blocks to the quad;
X}2 ^{is a dummy variable that takes the value 1 if the meter}
is located in downtown and off campus and the value 0 otherwise;
^X3 ^{is a dummy variable that takes the value 1 if the meter}
is located outside of downtown and off campus, and the value 0 otherwise.
The following Excel results are obtained.
$\begin{array}{lc}\hline \text {Regression Statistics } \\\hline \text {Multiple R} & 0.9659 \\ \text {R Square}& 0.9331 \\ \text {Adjusted R Square} & 0.9294 \\ \text {Standard Error }& 0.0327 \\ \text {Observations} & 58 \\\hline\end{array}$

ANOVA
$\begin{array}{lrcccr}\hline & \text { d f } & \text { SS} & \text { M S } & \text { F }& \text { Significance F }\\\hline \text { Regression} & 3 & 0.8094 & 0.2698 & 251.1995 & 1.0964 \mathrm{E}-31 \\ \text { Residual }& 54 & 0.0580 & 0.0010 & & \\ \text { Total} & 57 & 0.8675 & & & \\\hline\end{array}$

$\begin{array}{lcccl}\hline & \text { Coefficients} & \text {Standard Error }& \text {t Stat }& \text { p-value} \\\hline \text {Intercept} & 0.5118 & 0.0136 & 37.4675 & 2.4904 \\\mathrm{X1 } & -0.0045 & 0.0034 & -1.3276 & 0.1898 \\\mathrm{X2 } & -0.2392 & 0.0123 & -19.3942 & 5.3581 \mathrm{E}-26 \\\mathrm{X3 } & -0.0002 & 0.0123 & -0.0214 & 0.9829 \\\hline\end{array}$

-Referring to Table 14-13, what is the correct interpretation for the estimated coefficient for X₂?

A) All else equal, the estimated average difference in costs between parking on campus, and parking outside of downtown and off campus is - $0.24 per hour.
B) All else equal, the estimated average difference in costs between parking in downtown and off campus, and parking either outside of downtown and off campus or on campus is - $0.24 per hour.
C) All else equal, the estimated average difference in costs between parking in downtown and off campus, and parking outside of downtown and off campus is - $0.24 per hour.
D) All else equal, the estimated average difference in costs between parking in downtown and off campus, and parking on campus is - $0.24 per hour.