Problem
A sample of eighteen universities wastaken. The total cost forthe year(including room and board) and the median SAT score at each school were recorded. It was felt that school with higher median SAT scores would have a better reputation and would charge more tuition as a result of that. The data are in the file named "HW1_Problem1_Data".
Answer the following questions based on the sample data.
I. Develop a regression model to predict the total tuition and fees based on SAT scores. show hand computation by showing all the computational steps. See "Lecture 2" slides 14-19. Do NOT use the Excel Regression function.
II. Use the model from part (I) to predict the total cost for a university with a median SAT score of 1900. Make sure to retain all the formulas in the worksheet. If I cannot verify the formulas used and see static results only, a minimum 50% penalty will be applied.