A random sample of 30 colleges from Kiplinger's list of the best values in private college provided the data shown in the file BestPrivateColleges. The variable named Admit Rate (%) shows the percentage of students that applied to the college and were admitted, and the variable named 4 yr Grad. Rate (%) shows the percentage of students that were admitted and graduated in four years. (a) Develop a scatter diagram with Admit Rate (%) as the independent variable. 100 100 90 .. .. 90 80 80 70 -. ... .. . 60 60 4-yr Grad. Rate (%) 4-yr Grad. Rate (%) 50 50 40 40 30 30 20 20 10 10 OL 10 20 30 40 50 60 70 80 90 100 0 10 20 30 40 50 60 70 80 90 100 Admit Rate (%) DO Admit Rate (%) 100 100 90 90 80 80 70 70 60 60 50 4-yr Grad. Rate (%) 4-yr Grad. Rate (%) 50 40 40 30 30 20 20 10 10 OL OL 10 20 30 40 50 60 70 80 90 100 0 10 20 30 40 50 60 70 80 90 100 O Admit Data if21 Admit Rate (%) a positive linear admission rates are associated with higher graduation rates. There appears to be a a negative linear i relationship between the two variables. This implies that higher lower lower no (b) Compute the sample correlation coefficient. (Round your answer to two decimal places.) What does the value of the sample correlation coefficient indicate about the relationship between the Admit Rate (%) and the 4 yr Grad. Rate (%)? The sample correlation coefficient indicates a positive linear relationship between the two variables. a negative linear no