1. The system of equations X + Y + Z = 6, 2X + 3Y - Z = 5, and 7X - 8Y + 26Z = 31 is inconsistent. The ranks of the coefficient matrix A and the extended matrix A:B are not equal, with the rank of A:B being 3 and the rank of A being 2. 2. For a system of three equations with three variables, the ranks must be equal for the system to be consistent. 3. An inconsistent system has no solution or has multiple solutions, meaning the equations are dependent and do not represent a unique set of values for the variables.