SCENARIO 18-7 as a Project for His Business Statistics Class

Multiple Choice

SCENARIO 18-7 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 where Y is the meter price is the number of blocks to the quad is a dummy variable that takes the value 1 if the meter is located in downtown and off campus and the value 0 otherwise 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.
-Referring to Scenario 18-7, what is the correct interpretation for the estimated coefficient for

A) Holding the effect of the other independent variables constant, the estimated mean difference in costs between parking on campus, and parking outside of downtown and
Off campus is -$0.24 per hour.
B) Holding the effect of the other independent variables constant, the estimated mean difference in costs between parking in downtown and off campus, and parking on
Campus is -$0.24 per hour.
C) Holding the effect of the other independent variables constant, the estimated mean difference in costs between parking in downtown and off campus, and parking
Outside of downtown and off campus is -$0.24 per hour.
D) Holding the effect of the other independent variables constant, the estimated mean 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.