Dr. Deming, chairman of the marketing department undertakes a study to relate "starting salary" (y) after graduation for marketing majors to "exit test scores" (equivalent to fifty times grade point average (GPA)). To do this, he has selected 8 marketing students randomly. Their "exit test scores" along with "starting salary" (in ten thousands of dollars) provided in the following table.

Quarter 1 2 3 4 5 6 7 8 Sales_of_PEC_Services_(in_$_thousands) 9 10 16 10 13 12 11 15 Contracts_Released_(in_$_thousands) 156 175 194 181 185 196 205 223

a) Using the given data, the least-squares regression equation for predicting the starting salary is (round your responses to two decimal places):

y

=

enter your response here

+

enter your response herex

where

y

= Estimated Dependent Variable and x = Independent Variable.

b) The coefficient of correlation for the least-squares regression model =

enter your response here

(round your response to two decimal places.

For the least-squares model, the standard error of the estimate =

$enter your response here

(round your response to two decimal places).