Go to www.pearsonhighered.com/ sullivanstats to obtain the data file 4_1_49 using the file format of your choice for the version of the text you are using. The data represent the cost, return on investment, and graduation rate for a random sample of 50 colleges or universities in the United States. The data are from payscale.com. The variable “Cost” represents the four-year cost including tuition, supplies, room and board of attending the school. The variable “Annual ROI” represents the return on investment for graduates of the school. It essentially represents how much you would earn on the investment of attending the school. The variable “Grad Rate” represents the graduation rate of the school.
(a) Describe the association between “Cost” and “Graduation Rate” both numerically and graphically.
(b) Describe the association between “Cost” and “Annual ROI” both numerically and graphically.