Tech administrators believe their freshman applications are influenced by two variables: tuition and the size of the applicant pool of eligible high school seniors in the state. The following data for an 8-year period show the tuition rates (per semester) and the sizes of the applicant pool for each year:

Tuition Applicant Pool Applicants

$ 900 76,200 11,060 1,250 78,050 10,900 1,375 67,420 8,670 1,400 70,390 9,050 1,550 62,550 7,400 1,625 59,230 7,100 1,750 57,900 6,300 1,930 60,080 6,100

a. Using Excel, develop the multiple regression equation for these data.

b. What is the coefficient of determination for this regression equation?

c. Determine the forecast for freshman applicants for a tuition rate of $1,500 per semester, with a pool of applicants of 60,000. LO.1