Interpret the coefficient of determination

Assignment Help Basic Statistics

Reference no: EM131790131

Bar-Passing Rate

To become a lawyer, you must pass the bar exam in your state, and law schools often attract students by advertising their bar-passing rate: the percentage of their graduates who pass the bar exam. What qualities make for a good law school? You might think that a low student/faculty ratio was good; this would mean that the school typically has small class sizes.

a. The scatterplot shows the bar-passing rate against the student/faculty ratio for a large number of law schools in the United States. What does the trend tell us about the role of the student/faculty ratio?

b. The regression line for predicting the bar-passing rate is shown above the graph. What bar-passing rate would you predict for a school with a student/faculty ratio of 12?

c. Interpret the slope.

d. What, if anything, do we learn from the intercept?

e. Interpret the coefficient of determination.

2029_Bar-Passing Rate.png

(This data set is available at the text's website, and other variables are also shown, such as the minimum score on the LSAT (the Law School Admission Test), and the minimum GPA for the students accepted at the law schools.

Several other variables give higher coefficients of determination. You could also discover what named law schools have the low outliers, such as the bar-passing rate of 26%.)

Reference no: EM131790131

Questions Cloud

How the target is to be achieved with monetary policy : In the case where the central bank is to achieve a targeted rate of inflation, indicate how the target is to be achieved with monetary policy.

Idea of rational political ignorance : Some people make too much of the idea of rational political ignorance. After all, just as a politician is usually unharmed by a single vote against him

Discuss what your interpretation of strategic shift means : Prepare a summary report of the Technical Line from Ernst. Discuss what your interpretation of strategic shift means and how does this compare to the textbook.

Example of diminishing marginal utility : Can you think of an example of diminishing marginal utility you have personally encountered - besides the typical food and drink that are used in most textbooks

Interpret the coefficient of determination : The scatterplot shows the bar-passing rate against the student/faculty ratio for a large number of law schools in the United States.

Harmful to consumers : Explain why price controls that hold price below equilibrium are normally very harmful to consumers.

Explain the two theoretically possible ways : Explain the two theoretically possible ways to organize cooperation (division) of labor in the economy. Discuss evidence as to which method works best.

Why the knowledge of economics : Why the knowledge of economics has not spread from the economics profession to the average reasonably well educated person?

Discuss the tax effects of the distribution : Jeff, a 52% owner of an S corporation, has a stock basis of zero at the beginning of the year. Discuss the tax effects of the distribution

User Account

All Pages