Regression analysis
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27. Administrators at State University believe that decreases in the number of freshman applications that they have experienced are directly related to tuition increases. They have collected the following enrollment and tuition data for the last decade.
Year Freshman Annual
Applications Tuition ($)
1 6,050 3,600
2 4,060 3,600
3 5,200 4,000
4 4,410 4,400
5 4,380 4,500
6 4,160 5,700
7 3,560 6,000
8 2,970 6,000
9 3,280 7,500
10 3,430 8,000
28. Develop a linear trend line model for the freshman applications data at State University in problem 27.
a. Does this forecast appear to be more or less accurate than the linear regression forecast developed in problem 27? Justify your answer.
b. Compute the correlation coefficient for the linear trend line forecast and explain its meaning.
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Solution Summary
Step by step method for regression analysis is discussed here. Regression coefficients, coefficient of determination, scatter diagram and significance of regression model are explained in the solution.
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