College dining halls use attendance data to predict the number of diners at each meal. Daily weekday lunch data for 11 weeks were used to estimate the following regression equation:

where Y = number of diners; X₁ = 1 if Tuesday, 0 otherwise; X₂ = 1 if Wednesday, 0 otherwise; X₃ = 1 if Thursday, 0 otherwise; X₄ = 1 if Friday, 0 otherwise; X₅ = week of semester (X₅ = 1 during first week, X₅ = 2 during second week, etc.); and the standard errors are in parentheses.

a. What is predicted attendance on Wednesday during the tenth week of the semester?

b. Interpret the estimated coefficient of X₃.

c. Which of the explanatory variables have statistically significant effects at the 5 percent level?

Transcribed Image Text:

Y=220.58 29.13X1 +6.71X2-37.49X3+7.69X4 -2.25X5 (10.6) (10.3) (9.6) (21.2) (6.4) (1.2)