Consider the following LPM about the admission of a program: Admit = Bo + BiTop3 + B2GRE + B3GPA + U where Admit is a binary variable which takes the value 1 if the individual gets admitted to the program ad 0 if not admitted; Top3 is a binary variable which takes the value 1 if the individual has an overall rank of top 3 and 0 otherwise; GRE and GPA indicate the corresponding scores the individual has. Estimating the above LPM using OLS yields the following results. Interpret the estimated co- efficient 1, and find out the predicted probability of getting admitted to the program for someone who has GRE = 640, GPA = 3 and is NOT ranked top 3. LPM coefficients Standard Error t stat Bo -0.6028 0.1976 -3.05 B1 0.1426 0.0534 2.67 BZ 0.0005 0.0002 2.49 B3 0.1447 0.0666 2.17