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14a The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration.
14a
The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration. The estimated regression equation for these data is y^=2,133.78+567.57x and MSE =24,155.41. (a) Develop a point estimate of the starting salary (in dollars) for a student with a GPA of 2.7. (Round your answer to the nearest cent). $ (b) Develop a 95% confidence interval for the mean starting salary (in dollars) for all students with a 2.7 GPA. (Round your answers to the nearest cent). $ to $ (c) Develop a 95\% prediction interval (in dollars) for Ryan Dailey, a student with a GPA of 2.7. (Round your answers to the nearest cent). $ to $Step by Step Solution
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