Question
At Gina's university, there are 250 ?businessstudents who expect to graduate in 2006. a) ?Model the relationship between the totalnumber of graduates and the numberhired
At Gina's university, there are 250 ?businessstudents who expect to graduate in 2006.
a)
?Model the relationship between the totalnumber of graduates and the numberhired by performing a linear regressionon the data in the table on page 157.Determine the equation of the line of best ?t and the correlation coef?cient.
b)
Use this linear model to predict how many graduates will be hired in 2006.
c)
Identify any outliers in this scatter plot and suggest possible reasons for anoutlier. Would any of these reasons justify excluding the outlier from theregression calculations?
d)
Repeat part a) ?with the outlier removed.
It is)
Compare the results in parts a) ?and d). ?What assumptions do you have to make?
Number of Number Hired Upon Mean Starting Year Graduates Graduation Salary ($000) 1992 172 151 26 1993 180 160 27 1994 192 140 28 1995 170 147 27.5 1996 168 142 27 1997 176 155 26.5 1998 180 160 27 1999 192 162 29 2000 200 172 31 2001 220 180 34
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Sure Lets go through each part of the question step by step a Model the Relationship Using Linear Re...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started