A student was wondering if the average cost of attending a college could be predicted using the independent variables "admission rate" measured as the percent of applicants admitted to the school, and...

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Extracted text: A student was wondering if the average cost of attending a college could be predicted using the independent variables "admission rate" measured as the percent of applicants admitted to the school, and the dummy variable "private school". It is assumed that colleges are either private or public. A statistical software program generated the following regression results: Term Estimate Std. Error tvalue Intercept 33 670.89 5 486.87 6.137 PRIVATE 22 713.66 3 566.25 6.369 ADM RATE -186.60 68.73 -2.715 The interpretation of the estimated regression coefficient for ADM_RATE is: Holding type of college constant, a 186.6% increase in admissions rate is predicted to reduce the average cost of attending college by 1% Holding type of college constant, a 186.6% fall in admission rate is predicted to reduce the average cost of attending college by 1%. O Holding type of college constant, a 1% rise in the admission rate is predicted to reduce the average cost of attending college by $186.60


Extracted text: PRIVATE J400.07 ADM RATE 22 713.66 U.131 3 566.25 -186.60 6.369 68.73 -2.715 The interpretation of the estimated regression coefficient for ADM_RATE is: O Holding type of college constant, a 186.6% increase in admissions rate is predicted to reduce the average cost of attending college by 1% Holding type of college constant, a 186.6% fall in admission rate is predicted to reduce the average cost of attending college by 1%. Holding type of college constant, a 1% rise in the admission rate is predicted to reduce the average cost of attending college by $186.60 Holding type of college constant, a 1% fall in the admissions rate is predicted to reduce the average cost of attending college by $186.60 Page 12 of 50 Next Page Previous Page 0OG Cloudy A a