Question

Hello, I have computed a regression model where the dependent variable is "earn" as in how...

Hello,

I have computed a regression model where the dependent variable is "earn" as in how much money the student will earn after college. My independent variables include "public" as in was this college public(1) or private(0), "academic ability" (a score calculated as the average score from SAT/ACT data of admitted students), "Average Cost" of tuition and  "population" (of the city the college is in). Are public colleges better or private ones?

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.649
R Square 0.421
Adjusted R Square 0.418
Standard Error 5188.8229
Observations 612
ANOVA
df SS MS F Significance F
Regression 4 11900671012 2975167753 110.502922 0
Residual 607 16342797033 26923883.09
Total 611 28243468045
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95% Upper 95%
Intercept 13079.29751 1793.002809 7.294633031 9.40E-13 9558.055594 16600.53943 9558.055594 16600.53943
Public 5803.055751 692.3876623 8.381223506 3.65E-16 4443.289637 7162.821864 4443.289637 7162.821864
Academic Ability 30963.20394 3177.133618 9.745641091 6.01E-21 24723.69554 37202.71233 24723.69554 37202.71233
Average Cost of Tuition 0.234348603 0.037041991 6.32656614 4.87E-10 0.161602588 0.307094618 0.161602588 0.307094618
Population 0.000232352 7.84E-05 2.962605212 0.003169884 7.83E-05 0.000386376 7.83E-05 0.000386376
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