10.17 Predicting college debt: Other measures. Refer to Exercise 10.12. Let’s look at AveDebt and its relationship with the other explanatory variables in the data set. In addition to the in-state cost after aid (InCostAid), there is the admittance rate (Admit), the four-year graduation rate (GradRate), and out-of-state cost after aid (OutCostAid).

  1. (a) Generate scatterplots of each explanatory variable and AveDebt. Do all these relationships look linear? Describe what you see. Does Baruch College still look unusual?

  2. (b) Fit each of the explanatory variables separately and create a table that lists the explanatory variable, estimated model standard deviation s, and the P-value for the test of a linear association. For each analysis, make sure to specify whether you removed Baruch College or not.

  3. (c) Which variable do you think is the best single explanatory variable of average debt? Explain your answer.