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A sample of nine public universities and nine private universities was taken. The total cost for the year (including room and board) and the median SAT score (maximum total is 2400) at each school were recorded. It was felt that schools with higher median SAT scores would have a better reputation and would charge more tuition as a result of that. The data is in the table below. Use regression to help answer the following questions based on this sample data. Do schools with higher SAT scores charge more in tuition and fees? Are private schools more expensive than public schools when SAT scores are taken into consideration? Discuss how accurate you believe these results are using information related the regression models.
CATEGORY
TOTAL COST ($)
MEDIAN SAT
Public
21,700
1990
15,600
1620
16,900
1810
15,400
1540
23,100
21,400
1600
16,500
1560
23,500
1890
20,200
Private
30,400
1630
41,500
1840
36,100
1980
42,100
1930
27,100
2130
34,800
2010
32,100
1590
31,800
1720
1770
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