The following partial MINITAB regression output for the starting salary data relates to predicting the starting salary of a marketing graduate having a grade point average of 3.25.

a. Report (as shown on the computer output) a point estimate of and a 95 percent confidence interval for the mean starting salary of all marketing graduates having a grade point average of 3.25.
b. Report (as shown on the computer output) a point prediction of and a 95 percent prediction interval for the starting salary of an individual marketing graduate having a grade point average of 3.25.
c. Remembering that s = .536321 and that the distance value equals (sÅ· /.s)2. use Se from the computer output to hand calculate the distance value when x = 3.25.
d. Remembering that for the starting salary data n = 7, b0 = 14.816, and b1 = 5.7066, hand calculate (within rounding) the confidence interval of part (a) and the prediction interval of part (b).

Transcribed Image Text:

Predicted Values for New Observations Pit SE Fit New Obs 95% CI 95% PI 1 33.362 0.213 (32.813, 33.911) (31.878 34.846)