Question

PLEASE HELP WITH MATH CONSTRUCTED RESPONSE!!

1. Find the least squares regression equation using the school year (in number of years after 2000) for the input variable and the average cost (in thousands of dollars) for the output variable.

2. What is the best estimate for the average cost of tuition at a 4-year institution starting in 2000.

3. What is the best estimate for the average cost of tuition at a 4-year institution starting in 2020.

4. What does the slope mean in context of the situation?

5. Most students are not able to afford this tuition for 4 years. What are some ways that you can lower the cost of your college tuition? If you don’t plan to attend college, what things can do you post- HS graduation to continue your education or provide for yourself financially?

Answer 1

Answer:

1. y = 0.937976x +12.765
2. $12,765
3. $31,524
4. the cost increase each year

Step-by-step explanation:

1. For this sort of question a graphing calculator or spreadsheet are suitable tools. The attached shows the linear regression line to have the equation ...

... y = 0.937976x + 12.765

where x is years since 2000, and y is average tuition cost in thousands.

2. The y-intercept is the year-2000 tuition: $12,765.

3. Evaluating the formula for x=20 gives y ≈ 31.524, so the year-2020 tuition is expected to be $31,524.

4. The slope is the rate of change of tuition with respect to number of years. It is the average increase per year (in thousands). It amounts to about $938 per year.

5. [not a math question]