A random sample of 30 colleges from kiplinger's list of the best values in private college provided the data shown in the WEB file named Best Private Colleges (kiplinger, October 2013). 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. What does the scatter diagram indicate about the relationship between the two variables?
b. Compute the sample correlation coefficient. What does the value of the sample correlation coefficient indicate about the relationship between the Admit Rate (%) and the 4-yr Grad. Rate (%)?