Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 | |
- Find the best model to predict the total expenses of a university.
- Predict total expenses of a university based on 100 classrooms and ______ of 25 (00).
- How well does the model explain these expenses? Evaluate and discuss in detail.
- Is the model significant? Test the critical value is 3.90.
- Should both variables be included in the model? Why or why not? Show Work.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started