Question: 2. (2) Using 2011 data on 141 U.S. public research universities, we examine the relationship between academic cost per student, ACA (real total academic cost

2. (2) Using 2011 data on 141 U.S. public research universities, we examine the relationship between academic cost per student, ACA (real total academic cost per student in thousands of dollars) and full- time enrollment FTESTU [in thousands of students). The least squares estimated regression is: ACA = 14.656 +0.266FTESTU a) Interpret the estimated parameters. b) In 2011, Mississippi State University (MSU) had a full-time student enrollment of 20.424. Using the estimated regression, compute the predicted value of ACA. c) The actual value of ACA for MSU that year was 19.803. Calculate the least squares residual, = ACA-ACA , for MSU. Does the model over predict or under predict ACA for MSU? d) The same mean (average) full time enrollment in U.S. public research universities in 2011 was 22,845.77. What is the sample mean of academic cost per student

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