5. GMAT score and salary. U.S. News & World Report publishes the ay. erage starting salary and the average GMAT score for MBA graduates at each of the top 80 ranked schools in the country. The data fit the following regression line nicely: Y = 288X -111,408, where X is the ay- erage GMAT score for students at a school and Y is the average starting salary plus bonus (in $) for graduates from that same school. (a) Estimate the average starting salary plus bonus for a school having an average GMAT of 700 points. (b) Give a managerial interpretation of the coefficient 288. (c) If you plug in the lowest possible GMAT score of 200 for X, you get -$53,808. Explain what this number represents and what it being negative means here. 6. Production cost forecasting. Production costs for a large number of pre- vious orders of varying sizes for a product are in the file production. xls