What is dependent and independent variables? Fully write out the regression equation.What is the sample size used in this investigation? Fill in the blanks identified by ‘*’ and ‘**’.  Is β significant, at the 5% level of significance?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
icon
Related questions
Question

What is dependent and independent variables? Fully write out the regression equation.What is the sample size used in this investigation? Fill in the blanks identified by ‘*’ and ‘**’.  Is β significant, at the 5% level of significance? 

The following regression is fitted using variables identified that could be related to student
requested
loan amount, LOAN-AMT($) for returning students of a certain University.
LOAN - AMT = a + B ACCEPT + y PREV + λ OUTS
Where ACCEPT = the percentage of applicants that was accepted by the university, PREV=
previous loan amount and OUTS-outstanding loan amount
The data was processed using MNITAB and the following is an extract of the output obtained:
Predictor
Constant
ACCEPT
PREV
OUTS
S = 2685
Coef
-26780
116.00
-4.21
70.85
R-Sq 69.6%
Analysis of Variance
Source
DF
Regression
3
Residual Error 49.
Total
52
SS
EXHIBIT 2
St Dev
6115
37.17
14.12
15.77
808139371
353193051
1161332421
T
3.14
-0.30
4.49
MS
P
0.000
0.003
**
269379790
7208021
0.000
R-Sq (adj) = 67.7%
F
37.37
P
0.00
Transcribed Image Text:The following regression is fitted using variables identified that could be related to student requested loan amount, LOAN-AMT($) for returning students of a certain University. LOAN - AMT = a + B ACCEPT + y PREV + λ OUTS Where ACCEPT = the percentage of applicants that was accepted by the university, PREV= previous loan amount and OUTS-outstanding loan amount The data was processed using MNITAB and the following is an extract of the output obtained: Predictor Constant ACCEPT PREV OUTS S = 2685 Coef -26780 116.00 -4.21 70.85 R-Sq 69.6% Analysis of Variance Source DF Regression 3 Residual Error 49. Total 52 SS EXHIBIT 2 St Dev 6115 37.17 14.12 15.77 808139371 353193051 1161332421 T 3.14 -0.30 4.49 MS P 0.000 0.003 ** 269379790 7208021 0.000 R-Sq (adj) = 67.7% F 37.37 P 0.00
Expert Solution
steps

Step by step

Solved in 7 steps with 2 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax