A research wants to find out the relationship between the tuition in universitie
ID: 3350932 • Letter: A
Question
A research wants to find out the relationship between the tuition in universities and the graduate rate Here is the output from data analysis SUMMARY OUTPUT Regression Statistics Multiple P R Square Adjusted R Square Standard Error Observations 0.58832511 0.346126435 0.339454256 3450.412801 100 ANOVA Significance df MS Regression Residual 1 617602688.8 617602688.8 51.87606974 1.22163E-10 98 1166724152 11905348.49 99 1784326841 P-value Coefficients Standard Errort Stat 14090.22209 1197.343915 11.76789886 1.87172E-20 11714.13206 16466.31212 164.5355232 Lower 95% Upper 95% Intercept Graduation Rate 22.84421 7.202504408 1.22163E-10 119.2019319 209.8691145 3. 4. 5. Is it a reliable model? How much variation is explained by this model? What is the equation from the output? University of Washington's graduate rate in 2015 is 61, what is the estimated tuition in University of Washington in 2015?Explanation / Answer
3) This is not a very reliable model as the R2 value here is given to be 0.3461 which means that only 34.61% of the variation in the dependent variable is explained by the model ( or by the independent variables ) . Note that the R2 for the model is called the coefficient of determination which basically gives the proportion of variation in the dependent variable explained by the independent variables. A good model is where R2 value is closer to 1 and therefore this is not a so reliable model.
4) The equation from the output could be obtained from the coefficients column in the table as:
Tution in universities = 14090.22209 + 164.5355232* ( Graduation Rate )
This is the required equation from the output.
5) The estimated tution here is computed from the above equation as:
Tution in universities = 14090.22209 + 164.5355232*61 = 24126.8890052
Therefore the estimated tution in university of Washington in 2015 is 24126.8890052 from the given model.
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