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Economics Assignment Question
(a) Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum).
(b) Develop a scatter diagram with retention rate as the independent variable. What does the scatter diagram indicate about the relationship between the two variables?
(c) Develop and estimate a regression equation that can be used to predict the graduation rate (%) given the retention rate (%).
(d) State the estimated regression equation and interpret the meaning of the slope coefficient.
(e) Is there a statistically significant association between graduation rate (%) and retention rate (%). What is your conclusion?
(f) Did the regression equation provide a good fit? Explain.
(g) Suppose you were the president of South University. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities?
(h) Suppose you were the president of the University of Phoenix. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities?
Economics Assignment Solution
The aim of this report is to carry out a statistical analysis of how the Graduation Rate in online colleges is related to the Retention Rate of students at the same. If it is found that the two variables are related, we check whether the model is a good fit and make recommendations for Universities accordingly.
The rapid growth in the Online Education Sector poses a great competition to the Higher Education Sector in the United States today. Hence, in this report, we carry out an analysis of the Online Education Sector based upon two variables: the retention rate of students and the graduation rate. We have been provided data from the Online Education Database for 29 online colleges in the United States.
We denote the Retention Rate by RR% and the Graduation Rate by GR%. These values are provided for 29 online Universities in the US, with the data sourced from the Online Education Database.
At first, for answering question (a), we calculate the Mean, Standard Deviation, Minimum and Maximum values of the two variables……………….