State University administrators believe their freshman applications are influenced by two variables: tuition and the size of the applicant pool of eligible high school seniors in the state. The following data for an eight-year period show the tuition rates (per semester) and the sizes of the applicant pool for each year:

a. Using Excel, develop the multiple regression equation for these data.
b. What is the coefficient of determination for this regression equation?
c. Determine the forecast for freshman applicants for a tuition rate of $1500 per semester with a pool of applicants of60,000.

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Tuition ($) 900 1250 1375 1400 1550 1625 750 1930 Applicant Pool 76,20011 040 78,050 67.420 70,390 %2,550 59,230 57.900 60.080 Applicants 10.900 9,050 7.400 6.300