Question
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 ________$
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