A sample of nine public universities and nine private universities was taken. The total cost for the year (including room and board) and the median SAT score (maximum total is 2400) at each school were recorded. It was felt that schools with higher median SAT scores would have a better reputation and would charge more tuition as a result of that. The data is in the table below. Use regression to help answer the following questions based on this sample data. Do schools with higher SAT scores charge more in tuition and fees? Are private schools more expensive than public schools when SAT scores are CATEGORY TOTAL COST ($) MEDIAN SAT Public 21,700 1990 Public 15,600 1620 Public 16,900 1810 Public 15,400 1540 Public 23,100 1540 Public 21,400 1,600 Public 16,500 1560 Public 23,500 1,890 Public 20,200 1,620 Private 30,400 1,630 Private 41,500 1,840 Private 36,100 1,980 Private 42,100 1,930 Private 27,100 2,130 Private 34,800 2,010 Private 32,100 1,590 Private 31,800 1,720 Private 32,100 1,770 taken into consideration? Discuss how accurate you believe these results are using information related the regression models.
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