Introduction to Management Science 12th Edition by Bernard Taylor

Exercise 32

Tech administrators believe their freshman applications are influenced by two variables: tuition and the size of the applicant pool of eligible high school seniors in the state. The following data for an 8-year period show the tuition rates (per semester) and the sizes of the applicant pool for each year:
a. Using Excel, develop the multiple regression equation for these data.
b. What is the coefficient of determination for this regression equation
c. Determine the forecast for freshman applicants for a tuition rate of $1,500 per semester, with a pool of applicants of 60,000.