The accompanying multiple regression outputs estimate the following model:
annual cost = 0 + 1(Type of School) + 2(Average Total SAT)
where:
annual cost = annual cost at a college in thousands of dollars
Average Total SAT = average scholastic aptitude scores for students at the school
Type of School = 1 for private schools, = 0 for public schools
a) Is there a significant relationship between annual cost and the independent variables? (use alpha=.05)
b) Find a 90% confidence interval on the coefficient for the variable “school type”.
c) Find the predicted annual cost at a public college, where the SAT scores average 1100. Find an approximate 95% confidence interval for the annual cost.
1 answer