3. You are interested in examining the factors that determine the percentage of people of voting age who voted conservative in the last federal election. You collect data on the following variables:
Y = percentage of voters who voted Republican in the last US Presidential Election
X1 = median state income
X2= 1 if the state is in the West, 0 otherwise
X3 = 1 if the state is in the East, 0 otherwise
X4 = 1 if the state is in the North, 0 otherwise
X5 = 1 if the state is in the South, 0 otherwise
You run the following regression Y = βo + β1X1 + β2X2 + β4X4 + β5X5. What additional percentage of voters voted Republican in states that were in the West versus the East?
A. β2
B. The answer cannot be determined from this specification.
C. βo + β2
D. β2-βo
A. β2
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