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. Use

alphaαequals=0.01 where needed

Year   Private   Public
1   12,779   2,076
2   14,375   2,349
3   17,224   3,128
4   19,145   3,612
5   23,391   4,644
6   27,572   5,611

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 alphaαequals=0.01

What is the estimated regression slope​ coefficient?

b1equals= ____

​(Round to two decimal places as​ needed.)

What is the estimated regression​ intercept?

b0equals= _____

​(Round to the nearest whole number as​ needed.)

Determine the rejection region for the test statistic t for

alphaαequals=0.100.10.

Select the correct choice below and fill in any answer boxes to complete your choice.

​(Round to two decimal places as​ needed.)

A.

t < ___ or t > ____

B.

t < ____

C.

t > ___

Calculate the simple linear regression test statistic t.

tequals= ___

​(Round to two decimal places as​ needed.)

Since the test statistic (is, or isn't) in the rejection​ region (reject or do not ) the null hypothesis. Conclude that the regression model

(is or is not ) significant. This means that knowing the average public college tuition (provides or does not provide)

useful help in predicting the average private college tuition.

b.b.	How much does the average private college tuition increase when the average public college tuition increases by​ $100?

The average private college tuition increases by

​$_____

when the average public college tuition increases by​ $100.

​(Round to the nearest dollar as​ needed.)

c.c.	When the average public college tuition reaches ​$7,500​, how much would you expect the average private college tuition to​ be?

The average private college tuition would be

​$

when the average public college tuition reaches

​$7,500.

​(Round to the nearest dollar as​ needed.)

Answer 1