A test is conducted in 22 cities to see if giving away free transit system maps will increase the number of bus
riders. In a regression analysis, the dependent variable Y is the increase in bus riders (in thousands of persons) from the start of the test until its conclusion. The independent variables are X1 = the number (in thousands) of free maps distributed and a binary variable X2 = 1 if city has free downtown parking,0 otherwise. The estimated regression equation is . In city 3, the observed Y value is 7.3 and X1 = 140 and X2 = 0.
The residual for city 3 (in thousands) is:
A. 6.15
B. 1.15
C. 4.83
D. 1.57
Something is missing here. You don't present the estimated equation, only one observation. Plz re-check your problem and then repost if you are still having trouble.
To find the residual for city 3, we need to use the estimated regression equation and substitute the given values of X1 and X2 into the equation.
The estimated regression equation is not provided in the question, so we cannot calculate the residual directly. The equation should have the form:
Y = b0 + b1X1 + b2X2 + residual
To find the equation, we would need the coefficients b0, b1, and b2. However, these values are not provided either.
Therefore, we cannot calculate the residual for city 3 without more information.