Statistics

2208-MATH-1308-501-ELEM STATISTICAL ANALYSIS Joan Blackwood & | 09/26/20 9:24 PM Quiz: Quiz 2 (Sec 3.4-3.5, 4.1-4.2) Time Remaining: 00:46:23 Submit Quiz This Question: 1 pt 2 of 10 (0 complete) This Quiz: 10 pts possible Micro CTURE_. Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An academic advisor wants to predict the typical starting salary of a graduate at a top business school using GMAT score of the school as a predictor variable. Total GMAT scores range from 200 to 800. A simple linear regression of SALARY versus GMAT using 25 data points is shown below. Bo= -92040 1 =228 s=3213 R2 =0.66 r=0.81 df=23 t=6.67 Give a practical interpretation of By = 228. WE Obtaining O A. SALARY is estimated to increase $228 for every 1-point increase in GMAT. Samples O B. GMAT is estimated to increase 228 points for every $1 increase in SALARY. O C. The value has no practical interpretation since a GMAT of 0 is nonsensical and outside the range of the sample data O D. It is expected that SALARY will be predicted to within 2(228) = $456 of its true value using GMAT in a straight-line model