Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration. GPA

The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration.

GPA Monthly Salary ($)
2.6 3,600
3.4 3,900
3.6 4,300
3.2 3,800
3.5 4,300
2.9 3,900

The estimated regression equation for these data is

= 1,977.48 + 621.62x and MSE = 26,846.85.(a)Develop a point estimate of the starting salary (in dollars) for a student with a GPA of 3.0. (Round your answer to the nearest cent). ______________

Develop a 95% confidence interval for the mean starting salary (in dollars) for all students with a 3.0 GPA. (Round your answers to the nearest cent).$ _______ to _________ $

Develop a 95% prediction interval (in dollars) for Ryan Dailey, a student with a GPA of 3.0. (Round your answers to the nearest cent).

$ ______ to ________$

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

Step: 3

blur-text-image

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

Several Real Variables

Authors: Shmuel Kantorovitz

1st Edition

3319279564, 9783319279565

More Books

Students also viewed these Mathematics questions

Question

List the five steps in the decision-making model.

Answered: 1 week ago