You have been asked to develop a model that will predict the cost with financial aid for students at highly ranked private colleges. The data file Private Colleges contains data collected by a...

You have been asked to develop a model that will predict the cost with financial aid for students at highly ranked private colleges. The data file Private Colleges contains data collected by a national news service. Variables are identified in the Chapter 12 appendix.

a. Specify a list of potential predictor variables with a short rationale for each variable.

b. Use multiple regression to determine the conditional effect of each of these potential predictor variables.

c. Eliminate those variables that do not have a significant conditional effect to obtain your final model.

d. Prepare a short discussion regarding the conditional effects of the predictor variables in your model, based on your analysis.