The table below shows average annual tuition and feescharged by American colleges and universities as well as federal student financial assistance for the years 1995 to 2005. Let x represent the numberof years since 1995. Use the data in the table to answer the following question. year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 tuition/fees public ($) 2057 2179 2271 2360 2430 2506 2562 2700 2903 3319 3629 tuition/fee private ($) 11111 11864 12498 12801 13428 14081 15000 15742 16383 17327 18154 federal assistance (millon$) 35477 38865 40074 43072 40162 44007 48582 55525 62275 69053 72112 Use the linear model, y=138.5 + 1931.3 (y has a hat), to predict the cost of public tuition and fees for the year 2006. Enter the answer in the box below and round the answer to the nearest whole number. Use the linear model, y=692.5 + 10936.5 (y has a hat), to predict the cost of private tuition and fees for the year 2006. Enter the answer in the box below and round the answer to the nearest whole number. Use the linear model, y=3671.4 + 31570.5 (y has a hat), to predict the federal assistance for the year 2006. Enter the answer in the box below and round the answer to the nearest millon.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
The table below shows average annual tuition and feescharged by American colleges and universities as well as federal student financial assistance for the years 1995 to 2005. Let x represent the numberof years since 1995. Use the data in the table to answer the following question.
| year | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | |
| tuition/fees public ($) | 2057 | 2179 | 2271 | 2360 | 2430 | 2506 | 2562 | 2700 | 2903 | 3319 | 3629 | |
| tuition/fee private ($) | 11111 | 11864 | 12498 | 12801 | 13428 | 14081 | 15000 | 15742 | 16383 | 17327 | 18154 | |
| federal assistance (millon$) | 35477 | 38865 | 40074 | 43072 | 40162 | 44007 | 48582 | 55525 | 62275 | 69053 | 72112 |
Use the linear model, y=138.5 + 1931.3 (y has a hat), to predict the cost of public tuition and fees for the year 2006. Enter the answer in the box below and round the answer to the nearest whole number.
Use the linear model, y=692.5 + 10936.5 (y has a hat), to predict the cost of private tuition and fees for the year 2006. Enter the answer in the box below and round the answer to the nearest whole number.
Use the linear model, y=3671.4 + 31570.5 (y has a hat), to predict the federal assistance for the year 2006. Enter the answer in the box below and round the answer to the nearest millon.
What factors besiides tuition and fee increases might affect the increase in federal student assistance? Enter the response below.
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