Suppose we have the same data as in Exercise 2.24, except we also have data on family income as follows:

Student GPA GRE Income ($1000)

1 2.2 1400 44 2 2.4 1300 40 3 2.8 1550 46 4 3.1 1600 50 5 3.3 1400 40 6 3.3 1700 54 7 3.4 1650 52 8 3.7 1800 56 9 3.9 1700 50 10 4.0 1800 56 Using some statistical package such as MINITAB, do a linear regression for GRE in terms of GPA and income. Show the values of b0, bl, and b2 and the values of the SE coefficient, T, and P for each of them. Show R 2. Does it seem that we have improved our predictive accuracy for the GRE by also considering income?