Question: Earnings and need Continuing with the data from Exercise 1, heres a regression with the percent of students who receive merit-based financial aid included in

Earnings and need Continuing with the data from Exercise 1, here’s a regression with the percent of students who receive merit-based financial aid included in the model:

Response variable is: Earn R squared = 35.5%

s = 5409 with 687 - 3 = 684 degrees of freedom Variable Coefficient SE(Coeff)t-ratio P-value Intercept 23974.2 2327 10.3 60.0001 SAT 23.1880 1.658 14.0 60.0001

%need -8500.75 1329 -6.40 60.0001

a) Write the regression model.

b) What is the interpretation of the coefficient of SAT in this model? How does it differ from the interpretation in Exercise 1?

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