|Adjusted R Square||0.034093423|
|Coefficients||Standard Error||t Stat||P-value||Lower 95%||Upper 95%||Lower 99.0%||Upper 99.0%|
a. According to your estimate, what is the predicted financial aid awarded to a
student with a high school GPA rank of 95%?
b. David’s GPA rank increased from 80% to 90%, by how much will his financial aid
change as a result?
c. The residual plot and the line of best fit plot for your regression.
d. Does student’s GPA rank in high school account for a large fraction of the
variations in the financial aid awarded?
e. Is your estimated coefficient significant?
Part A Predicted Financial Aid = 6396.894057+ 64.68225855*95 = 12541.70862
Part B Change in financial Aid = 90-80*(64.68225855) = 646.8225855
Part D 1% GPA rank changes Financial Aid only around 1% of its basic value which is not too much. Though if GPA is quite high, i.e. At its peak, it can result into a change of 10% of its base value. Which can be seen as important for some.
Part E Estimated coefficient has a p value of 0.105035125 which is more than 0.05. Therefore it is not significant at 95% confidence interval.
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