Consider the data for Business Week’s top U.S. MBA programs in the MBA Data sheet of the file P10_21.xlsx. Use these data to estimate a multiple regression model to assess whether there is a relationship between the enrollment and the following explanatory variables:
(a) The percentage of international students,
(b) The percentage of female students,
(c) The percentage of Asian American students,
(d) The percentage of minority students, and
(e) The resident tuition and fees at these business schools.
a. Determine whether each of the regression coefficients for the explanatory variables in this model is statistically different from zero at the 5% significance level. Summarize your findings.
b. Is there evidence of multicollinearity in this model? Explain why or why not.