The Department of Economic Development in Grundy County wants to evaluate the economic development program that it started in 1993. Its measure of success is the total number of persons employed in Grundy County. Independent variables are X₁, a trend variable starting as 1 in the first year of the data, 1974; X₂, the percentage of persons unemployed at the national level; and X₃, a dummy variable coded as a counter variable starting in the first year of the economic development program (1993 = 1, 1994 5 2, ...). A regression produces the following results:

Interpret this regression. Predict the number of jobs in Grundy County in 2012 if unemployment is 5.1%. 

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561 = 746 Ŷ = 215,400 625 562 = 563 = 2,400X₁ - 4,235X₂ + 1,421X3 419 Sx = 4,300 R² = .99 Adj. R² = .98