Concept explainers
Ran kings of research universities. Refer to the College Choice 2015 Rankings of National Research Universities, Exercise 2.43 (p. 71 ). Recall that data on academic reputation score, financial aid awarded, net cost to attend, median salary during early career, percentage of alumni who feel their work makes a better place in which to live, and percentage of science, technology, engineering, and math (STEM) degrees awarded for the top 50 research universities are saved in the file. Information on the top 10 schools are listed in the table on the next page.
a. Select one of the variables as the dependent variable, y, and another as the independent variable, x. Use your knowledge of the subject area and common sense to help you select the variables.
b. Fit the simple linear model, E (y) = β0 + β1x, to the data for all 50 top-ranked schools. Interpret the estimates of the slope and y-intercept.
Data for Exercise 11.29
Rank University | Academic Rep. Score | Financial Aid | Cost | Early Pay | Better Place | STEM | |
1 | Harvard | 99 pts. | $41555 | $14,455 | $61,400 | 65% | 28% |
2 | MIT | 92 | 34,641 | 20,629 | 74,900 | 55 | 79 |
3 | Stanford | 94 | 38.522 | 19.233 | 65.900 | 62 | 29 |
4 | Columbia | 95 | 37.934 | 21.274 | 60.200 | 56 | 29 |
5 | yale | 97 | 39771 | 18,479 | 60,300 | 88 | 21 |
6 | CalTech | 91 | 31,445 | 22,645 | 72,600 | 56 | 93 |
7 | Dartmouth | 91 | 38,148 | 20,490 | 56.3C0 | 45 | 20 |
8 | Penn | 92 | 35,539 | 21,821 | 60,300 | 55 | 19 |
9 | Duke | 92 | 33,191 | 24,134 | 60,600 | 59 | 35 |
10 | Johns Hopkins | 39 | 34.469 | 22,973 | 57,500 | 63 | 26 |
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Statistics for Business and Economics (13th Edition)
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