Question
The following data give the starting salary for students who recently graduated from a local university and accepted jobs soon after graduation. The starting salary,
The following data give the starting salary for students who recently graduated from a local university and accepted jobs soon after graduation. The starting salary, grade-point average (GPA), and major (business or other) are provided.
Student | 29500 | 38000 | 44800 | 36500 | 42000 | 31500 | 36200 | 30000 |
GPA | 3.1 | 3.5 | 3.8 | 2.9 | 3.4 | 2.1 | 2.5 | 3.6 |
Major | Other | Business | Business | Other | Business | Other | Business | Other |
(a) Develop a linear model that could be used to predict starting salary based on GPA and major. Comment on the effectiveness of the model.
(b) What does the model say about the starting salary for a business major compared to a nonbusiness major --- specifically, does the business major have a significant impact on the starting salary?
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