The data shown below indicate the average tuition (in dollars) over a six-year p
ID: 3056655 • Letter: T
Question
The data shown below indicate the average tuition (in dollars) over a six-year period for private and public colleges in a region. Complete parts a through c below. 5 Year 3 Private 14,052 13,669 17,578 20,740 24,112 31,445 Public 2,026 2,363 3,167 3,697 4,672 5,657 a. Conduct a simple linear regression analysis of these data in which the average tuition for private colleges is predicted by the average public college tuition. Test the significance of the model using a= 0.05. What is the estimated regression slope coefficient? b =(Round to two decimal places as needed.) What is the estimated regression intercept? bo=L(Round to the nearest whole number as needed.) To test the significance, first determine the hypotheses to test. Choose the correct answer below, O A. Ho: B. 20 HA: B0 O B. Ho: B. 40 HA: P = 0 OE. He: B. >0 HA: B,Explanation / Answer
SUMMARY OUTPUT of Regression of Private Tuition fee on Public Tuition fee
Regression Statistics
Multiple R
0.986857
R Square
0.973887
Adjusted R Square
0.967359
Standard Error
1223.594
Observations
6
ANOVA
df
SS
MS
F
Significance F
Regression
1
2.23E+08
2.23E+08
149.1816
0.000258
Residual
4
5988725
1497181
Total
5
2.29E+08
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Lower 95.0%
Intercept
2902.519
1506.828
1.926244
0.12636
-1281.11
7086.146
-1281.11
Public
4.827258
0.395224
12.21399
0.000258
3.729941
5.924575
3.729941
SUMMARY OUTPUT of Regression of Private Tuition fee on Public Tuition fee
Regression Statistics
Multiple R
0.986857
R Square
0.973887
Adjusted R Square
0.967359
Standard Error
1223.594
Observations
6
ANOVA
df
SS
MS
F
Significance F
Regression
1
2.23E+08
2.23E+08
149.1816
0.000258
Residual
4
5988725
1497181
Total
5
2.29E+08
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Lower 95.0%
Intercept
2902.519
1506.828
1.926244
0.12636
-1281.11
7086.146
-1281.11
Public
4.827258
0.395224
12.21399
0.000258
3.729941
5.924575
3.729941
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