The Graduate Management Admission Test (GMAT) is a three-and-a-half hour exam that is accepted by almost 6,000 Business and Management programs in more than 80 countries as part of the admission application for people who want to obtain a graduate degree. This test is taken by more than 200,000 applicants each year. Suppose that a major university that offers an M.A. in Human Resources Management requires a GMAT score as part of the application process to this program, wants to know how well GMAT scores of applicants predict their Grade-Point Average (GPA) at the end of their first year of graduate school. The GMAT has four subtest scores: (1) Verbal (score range 0–60),

(2) Quantitative (score range 0–60), (3) Analytical writing (score range 0–6 in 0.5 intervals), and (4) Integrated Reasoning (score range 1–8) You have decided to use these four subtest scores as predictors of first-year GPA, and to check your skills in Excel, you have created the hypothetical data given in Fig. 7.10.

(a) create an Excel spreadsheet using FIRST-YEAR GPA as the criterion (Y), and the other variables as the four predictors of this criterion

(X1¼VERBAL, X2¼QUANTITATIVE, X3¼ANALYTICAL WRITING, and X4¼INTEGRATED REASONING).

(b) Use Excel’s multiple regression function to find the relationship between these five variables and place the SUMMARY OUTPUT below the table.

(c) Use number format (two decimal places) for the multiple correlation on the Summary Output, and use three decimal places for the coefficients in the SUMMARY OUTPUT.

(d) Save the file as: GMAT16

(e) Print the table and regression results below the table so that they fit onto one page.

(f) Now, go back to your Excel file and create a correlation matrix for these five variables, and place it underneath the SUMMARY OUTPUT.
(g) Re-save this file as: GMAT16 (h) Now, print out just this correlation matrix on a separate sheet of paper.