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11.19 Predicting college debt: Inference. Refer to the previous exercise. Let’s proceed using the data set without Baruch College.

  1. (a) Report the least-squares equation using all four variables.

  2. (b) What percent of the variability in average debt is explained by this model?

  3. (c) Report the F statistic, its degrees of freedom, and the P-value. What do you conclude based on this test result?

  4. (d) Using this F test and the individual parameter t tests, write a one-paragraph summary of this model’s fit to the data.

11.19 (a) ˆy = 15656 + 43.08092Admit + 75.96892Grad + 0.83610InCostAid − 0.29900OutCostAid. (b) R2 = 43.53%. (c) F = 3.66, df = 4 and 19, P-value = 0.0225. (d) F = 3.66, P-value = 0.0225. Only InCostAid has a significant t test (t = 2.89, P-value = 0.0093), and the other three are not significant when added to the model last.

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