Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Looking for help with A and B. Thank you! A prospective MBA student would like to examine the factors that impact starting salary upon graduation

Looking for help with A and B. Thank you!

image text in transcribedimage text in transcribed
A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program peryear tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities The data are stored in the accompanying table. The least-squares regression equation for these data is Yi = - 12,087.633 + 2.397Xi and the standard error of the estimate is SYX =15,642.009. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below. @ Click the icon to view the data on program per-year tuition and mean starting salary. a. At the 0.05 level of signicance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. H05 [31 H13 31 (Type integers or decimals. Do not round.) 'tL E E Compute the test statistic. The test statistic is tSTAT = U_ (ROUnd to two decimal places as needed.) Find the pvalue. The p-value is 7 (Round to three decimal places as needed.) Reach a decision. H0. There is evidence to conclude that there is a linear relationship between the starting salary upon graduation and program per-year tuition. b. Construct a 95% condence interval estimate of the population slope, [31 . The condence interval is S [51 Si (Round to three decimal places as needed.) Program Per-Year Tuition ($) Mean Starting Salary Upon Graduation ($) 64348 153462 68545 154544 65434 150405 68821 141045 65010 141361 65453 152236 67144 148791 69850 149775 63295 133321 63109 146331 65399 145607 62165 148270 61707 139109 57738 137769 55218 123897 55462 117669 56770 126095 53007 126658 52555 129224 49851 125271 46631 113919 46904 110111 49914 113965 46842 110936 36558 81658 47201 82480 48207 103636 51023 74297 39340 84875 34074 75995 43904 75392 41383 54776 50002 65238 35455 100788 21588 55625 42887 77650 38284 56502

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Combinatorics And Graph Theory

Authors: John M Harris, Jeffry L Hirst, Michael J Mossinghoff

2nd Edition

0387797114, 9780387797113

More Books

Students also viewed these Mathematics questions

Question

NAME 3 WAYS IN WHICH MACHINE LEARNING IS TYPICALY ACHIEVED

Answered: 1 week ago

Question

What do Scrum Teams use to visually represent their project

Answered: 1 week ago