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4.In general, the total expenses of universities in New England are related to many different factors. Two of the most important are the number of

4.In general, the total expenses of universities in New England are related to many different factors. Two of the most important are the number of classrooms in the university and the number of student admissions (in hundreds). Data were collected on 14 universities and are shown in the table below.

University Classrooms Admissions Total Expenses
1 215 77 57
2 336 160 127
3 520 230 157
4 135 43 24
5 35 9 14
6 210 155 93
7 140 53 45
8 90 6 6
9 410 159 99
10 50 18 12
11 65 16 11
12 42 29 15
13 110 28 21
14 305 98 63

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.987362
R Square 0.974883
Adjusted R Square 0.970317
Standard Error 8.368626
Observations 14
ANOVA
df SS MS F Significance F
Regression 2 29901.34 14950.67 213.4776 1.58E-09
Residual 11 770.3729 70.0339
Total 13 30671.71
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 0.653892 3.756493 0.17407 0.864973 -7.61409 8.921878 -7.61409 8.921878
Classrooms 0.023062 0.045154 0.510734 0.619631 -0.07632 0.122446 -0.07632 0.122446
Variable 2 0.622971 0.095007 6.557139 4.1E-05 0.413863 0.832079 0.413863 0.832079
  1. Find the best model to predict the total expenses of a university.
  2. Predict total expenses of a university based on 100 classrooms and ______ of 25 (00).
  3. How well does the model explain these expenses? Evaluate and discuss in detail.
  4. Is the model significant? Test the critical value is 3.90.
  5. Should both variables be included in the model? Why or why not? Show Work.

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