Question: College tuition has risen at a pace faster than inflation for more than two decades, according to an article in USA Today. The following data indicate the average college tuition (in 2003 dollars) for private and public colleges:
a. Conduct a simple linear regression analysis of these data in which the average tuition for private colleges is predicted by the average public college tuition. Test the significance of the model using an a = 0.10.
b. How much does the average private college tuition increase when the average public college tuition increases by $100?
c. When the average public college tuition reaches $7,500, how much would you expect the average private college tuition to be?