Provide pairwise Pearson correlations for the four predictors and check multicollinearity

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

BIOS 6102

9. A project evaluated whether the four factors (InCostAid, Admit, GradRate, and OutCostAid) are predictors for debt in dollars at graduation (AveDebt) using the dataset of “BESTVAL.csv.”

Variable name	Contents
AveDebt	debt in dollars at graduation
InCostAid	in-state cost per year after need-based aid
Admit	The admittance rate
GradRate	Four-year graduation rate
OutCostAid	Out-of-state cost after aid

 

a.       Provide descriptive statistics and histogram for all variables of interest (outcome and predictors)

b.      Provide pairwise Pearson correlations for the four predictors and check multicollinearity. Comment on these correlations using the criteria provided in class and whether it is appropriate to consider all 4 predictors for building a multivariable model.

c.       Create scatter plots for each predictor with AveDebt. Comment on the plots.

d.      Perform univariate linear regression for each predictor and complete the following table.

	Beta (SE)	p-value
InCostAid
Admit
GradRate
OutCostAid

 

e.      Conduct a multivariable linear regression using both (1) univariate model approach and (2) automatic variable selection. Comment what your final model is and your reason for choosing it as the final model. <10 points>

 

f.        Obtain the Jackknife residuals, leverage, and Cook’s distance from your final multivariable model and comment on the problematic points.

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