2a) • Using a Graphing calculator or spreadsheet program create a least squares regression line of the tuition for 4 years versus the average salary after 10 years, define any variables that you used. • Identify and interpret the correlation coefficient and coefficient of determination. • By looking at the least squares regression line, determine the college that you believe is the best value. Explain your reasoning. • Using the college (Harvard University) you chose, identify and interpret its residual based on the least squares regression model. Average Salary ($)140,000130,000120,000110,000100,00090,00080,00070,00060,000●Average Salary of College Graduates50,000100,000150,0004-Year Tuition ($)200,000250,000 College Name:Harvard UniversityPrinceton UniversityYale UniversityCurrent YearlyTuition:$55,587$56,010$59,950Columbia University$63,530Cornell University$61,015Brown University$62,304Dartmouth College$60,870University of Pennsylvania $61,710SUNY BuffaloMassachusetts Institute of $55,878Technology$10,782 (In-state)Tuition (4 yearstotal):$222,348$224,040$239,800$254,120$244,060$249,216$243,480$246,840$223,512$43,128 (In-state)Median StudentLoan Debt forGraduates:$12,665$9,623$13,142$29,757$14,500$13,000$17,000$16,763$25,080$13,254Average Salary After 10Years:$136,700$95,689$88,655$89,871$91,176$78,943$91,627$103,246$111,222$62,022

Answered: Using a Graphing calculator or…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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2a) • Using a Graphing calculator or spreadsheet program create a least squares regression line of the tuition for 4 years versus the average salary after 10 years, define any variables that you used.
• Identify and interpret the correlation coefficient and coefficient of determination.
• By looking at the least squares regression line, determine the college that you believe is the best value. Explain your reasoning.
• Using the college (Harvard University) you chose, identify and interpret its residual based on the least squares regression model.