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 3 566.25 6.137 PRIVATE 22 713.66 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% O 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
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 3 566.25 6.137 PRIVATE 22 713.66 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% O 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
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
12
Transcribed Image 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
Transcribed Image 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
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