In general, the total expenses of public community colleges in the Mid-Atlantic States are related to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
In general, the total expenses of public community colleges in the Mid-Atlantic States are related to multiple interrelated factors. Two of the most important are the number of classroom seats and the number of student admissions (in hundreds). The provosts of these institutions must determine the amount of available student scholarship funds based on the data below relative to the Mid Atlantic college market. Data were collected on 14 public community colleges in the region and are shown in the table below. Community Classroom College Seats SUMMARY OUTPUT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ANOVA Multiple R R Square Adjusted R Square Standard Error Regression Statistics Observations Regression Residual Total Intercept X Variable 1 X Variable 2 215 336 520 135 35 210 140 90 410 50 65 42 110 305 Admissions 0.987362 0.974883 0.970317 8.368626 df 14 2 11 13 77 160 230 43 9 155 53 6 159 18 16 29 28 98 Total Expenses SS 1. Find (specify) the best model to predict the total expenses of a university. 2. Predict total expenses of a Community College based on 100 classrooms and student admissions of 140. 3. How accurate is the model? How well does the model explain these expenses? Discuss 4. Is the model significant at the 0.05 level of significance? The critical value of F is 2.90 5. Should both variables be included in the model? Why or why not? 6. What should the provost of the third institution decide with respect to scholarship funds? Increase of decrease these with regard to the market? 29901.34 770.3729 57 127 157 24 14 93 45 6 99 12 11 15 21 63 30671.71 MS 14950.67 70.0339 Coefficients Standard Error t Stat 0.653892 3.756493 0.17407 0.045154 0.510734 0.023062 0.622971 0.095007 6.557139 F 213.4776 P-value 0.864973 0.619631 4.1E-05 Significance F 1.58E-09 Lower 95% -7.61409 -0.07632 0.413863 Upper 95% 8.921878 0.122446 0.832079 Lower 95.0% -7.61409 -0.07632 0.413863 Upper 95.0% 8.921878 0.122446 0.832079 In general, the total expenses of public community colleges in the Mid-Atlantic States are related to multiple interrelated factors. Two of the most important are the number of classroom seats and the number of student admissions (in hundreds). The provosts of these institutions must determine the amount of available student scholarship funds based on the data below relative to the Mid Atlantic college market. Data were collected on 14 public community colleges in the region and are shown in the table below. Community Classroom College Seats SUMMARY OUTPUT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ANOVA Multiple R R Square Adjusted R Square Standard Error Regression Statistics Observations Regression Residual Total Intercept X Variable 1 X Variable 2 215 336 520 135 35 210 140 90 410 50 65 42 110 305 Admissions 0.987362 0.974883 0.970317 8.368626 df 14 2 11 13 77 160 230 43 9 155 53 6 159 18 16 29 28 98 Total Expenses SS 1. Find (specify) the best model to predict the total expenses of a university. 2. Predict total expenses of a Community College based on 100 classrooms and student admissions of 140. 3. How accurate is the model? How well does the model explain these expenses? Discuss 4. Is the model significant at the 0.05 level of significance? The critical value of F is 2.90 5. Should both variables be included in the model? Why or why not? 6. What should the provost of the third institution decide with respect to scholarship funds? Increase of decrease these with regard to the market? 29901.34 770.3729 57 127 157 24 14 93 45 6 99 12 11 15 21 63 30671.71 MS 14950.67 70.0339 Coefficients Standard Error t Stat 0.653892 3.756493 0.17407 0.045154 0.510734 0.023062 0.622971 0.095007 6.557139 F 213.4776 P-value 0.864973 0.619631 4.1E-05 Significance F 1.58E-09 Lower 95% -7.61409 -0.07632 0.413863 Upper 95% 8.921878 0.122446 0.832079 Lower 95.0% -7.61409 -0.07632 0.413863 Upper 95.0% 8.921878 0.122446 0.832079 In general, the total expenses of public community colleges in the Mid-Atlantic States are related to multiple interrelated factors. Two of the most important are the number of classroom seats and the number of student admissions (in hundreds). The provosts of these institutions must determine the amount of available student scholarship funds based on the data below relative to the Mid Atlantic college market. Data were collected on 14 public community colleges in the region and are shown in the table below. Community Classroom College Seats SUMMARY OUTPUT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ANOVA Multiple R R Square Adjusted R Square Standard Error Regression Statistics Observations Regression Residual Total Intercept X Variable 1 X Variable 2 215 336 520 135 35 210 140 90 410 50 65 42 110 305 Admissions 0.987362 0.974883 0.970317 8.368626 df 14 2 11 13 77 160 230 43 9 155 53 6 159 18 16 29 28 98 Total Expenses SS 1. Find (specify) the best model to predict the total expenses of a university. 2. Predict total expenses of a Community College based on 100 classrooms and student admissions of 140. 3. How accurate is the model? How well does the model explain these expenses? Discuss 4. Is the model significant at the 0.05 level of significance? The critical value of F is 2.90 5. Should both variables be included in the model? Why or why not? 6. What should the provost of the third institution decide with respect to scholarship funds? Increase of decrease these with regard to the market? 29901.34 770.3729 57 127 157 24 14 93 45 6 99 12 11 15 21 63 30671.71 MS 14950.67 70.0339 Coefficients Standard Error t Stat 0.653892 3.756493 0.17407 0.045154 0.510734 0.023062 0.622971 0.095007 6.557139 F 213.4776 P-value 0.864973 0.619631 4.1E-05 Significance F 1.58E-09 Lower 95% -7.61409 -0.07632 0.413863 Upper 95% 8.921878 0.122446 0.832079 Lower 95.0% -7.61409 -0.07632 0.413863 Upper 95.0% 8.921878 0.122446 0.832079
Expert Answer:
Answer rating: 100% (QA)
1 To find the best model to predict the total expenses of a university we need to look at the regression statistics provided The crucial metrics here are the Multiple R R Square Adjusted R Square and ... View the full answer
Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
Posted Date:
Students also viewed these accounting questions
-
Identify two specific examples of Jim Crow Legislation in the South during the early Twentieth Century.
-
Jimmy and Elizabeth plan on getting married on the 15th of August. Elizabeth decides that she would prefer to have the reception in her backyard, so she rents an event tent from CELEBRATE Ltd, a firm...
-
Which contains the higher percentage of neutrons: large nuclei or small nuclei?
-
Expand 32/(x + 2) 3 in ascending powers of x, up to and including the term in x 3 .
-
John and Jennifer Margeson entered into a contract to sell a weight-loss franchise business called Inches-A-Weigh to Theresa Artis. The parties memorialized their agreement in an Asset Purchase...
-
Derby Company prepares monthly cash budgets. Relevant data from operating budgets for 2014 are: All sales are on account. Collections are expected to be 60% in the month of sale, 25% in the first...
-
Explain an existing healthcare initiative that address the disparities veterans face with access to mental health. Explain specific goals of the specific initiative to address the gap veterans face...
-
TechCo is a successful tech company. You have estimated the C of E to be 11% and expect share buybacks and dividends to grow 8%/year, and you believe the company could be sold for $2.4 billion at the...
-
Non-linearity is one important property that makes DES secure. This problem verifies the nonlinear property by computing the output of S for several pairs of inputs. Show that: S(x1) S(x2) S(x1 x2)...
-
Treasury secretary Hank Paulson and the President of the NY Fed Timothy F. Geithner were involved in the discussions of the deal. a) Assume that the only goal that the NY Fed and the Treasury pursued...
-
Explain why the Uruguay round of negotiations launched in September 1986 is held to be the most successful of the 8 General Agreement on Tariffs and Trade rounds of negotiations.
-
Oak Bay Software has 10.5% coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 108.1% of par. What is the YTM? (Do not round intermediate...
-
Find an equation of the plane passing through the given point and parallel to the given plane. a. (2, -4,5), z = 2x + 3y b. (0,6,-4), 2x - 3y - 6z = 0 10. Find an equation of the plane passing...
-
Perform the exercises in the following case paying attention to the instructions: Music Express is a company that sells both car and home stereos. Jornalize transactions using the direct write off...
-
Huntingdon Capital Corp. is a competitor of Plazacorp and First Capital Realty. Huntingdon reported the following selected information (in millions):...
-
The air pollution project discussed in the chapter has progressed over the past several weeks, and it is now the end of week 8. Lester Harky would like to know the value of the work completed the...
-
The Long Island Life Insurance Company sells a term life insurance policy. If the policy holder dies during the term of the policy, the company pays $100,000. If the person does not die, the company...
-
Xemex has collected the following inventory data for the six items that it stocks: Lynn Robinson, Xemexs inventory manager, does not feel that all of the items can be controlled. What ordered...
-
Powerhouse Ltd purchased machinery on 2 January 2019, at a cost of $800 000. The machinery is depreciated using the straightline method over a useful life of 8 years with a residual value of $80 000....
-
The purchases and sales of Big Flower Pty Ltd of one brand of lawn fertiliser for the year ended 31 December 2019 are contained in the schedule below. The selling price up to 30 June was $12 per unit...
-
In groups of four or five, consider the following information. On 1 July 2019, Stevenson Pty Ltd, a proprietary company with three shareholders, acquired some property by issuing 100 000 shares to...
Study smarter with the SolutionInn App