Prepare a 2,000 word report that addresses the following questions: (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 (%).

1. ECO82001 Economics & Quantitative Analysis
Statistical analysis of Economics data and report
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Abstract
The purpose of the present study is to examine the association between the retention and
graduation rate in 29 online colleges in the United States and how it is associated with online
studies. There are a number of drivers of change in higher education today, which includes
technology, globalization, changing demographics, economy, changing employer needs,
increased demand for accountability, changing student expectations, etc. ((Filthy, Luce, &
Smith, 2010) and (Goldstein, 2006)). The impact of any one of these drivers is significant and
in total is transformative. Thus, in this regard, many researchers agreed that online learning is
the disruptive innovation in higher education today (Christensen & Eyring, 2011). A disruptive
innovation is one that allows a simple, affordable, and accessible product to replace a product
that is complex, expensive and inaccessible, even if the initial quality of the new product is
inferior. Distance education has undergone a substantial transformation from its origins in
independent or correspondence and this transformation has been best described by the
establishment and growth of more than 50 open universities since 1970s (Altbach, Philip, &
Jane, 2007). Open universities may be viewed, from many respects, as forerunners in tackling
the challenges that now confront higher education systems worldwide (Anderson & Terry,
2005).