a) Find the least squares regression line (4 decimal places.) b) Use the regression line to predict the starting salary of a recent college graduate with a GPA of 3.15 c) Interpret the meaning of the values of a and b calculated in part a). d) Calculater and 7² and briefly explain what they mean. e) Compute the standard deviation of errors. I'll give you the answer, but you still have to show your work: 3.5417. Use this value in the calculation of S₁, in part f) f) Construct a 95% confidence interval for B. g) Test at a 1% significance level whether B is different from 0. Use the Critical Value Approach
a) Find the least squares regression line (4 decimal places.) b) Use the regression line to predict the starting salary of a recent college graduate with a GPA of 3.15 c) Interpret the meaning of the values of a and b calculated in part a). d) Calculater and 7² and briefly explain what they mean. e) Compute the standard deviation of errors. I'll give you the answer, but you still have to show your work: 3.5417. Use this value in the calculation of S₁, in part f) f) Construct a 95% confidence interval for B. g) Test at a 1% significance level whether B is different from 0. Use the Critical Value Approach
Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter38: Achievement Review—section Three
Section: Chapter Questions
Problem 6AR
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this is not worth marks our professor gave us a practice final exam which was just his one from last year and I'm very confused about how to do this one pls help!! :(
Transcribed Image Text:4. The following table gives information on GPAS and starting salaries
(rounded to the nearest thousand dollars) of seven recent college graduates.
GPA
2.90
3.81
3.20
2.05
Starting salary
48
53
50
32
With GPA as the independent variable and starting salary as the dependent
variable, SSxx = 3.3647, SSyy = 788, and SSxy= 49.4.
Use these values in the following.
a) Find the least squares regression line (4 decimal places.)
2.42
37
f) Construct a 95% confidence interval for B.
3.94
65
b) Use the regression line to predict the starting salary of a recent college
graduate with a GPA of 3.15
c) Interpret the meaning of the values of a and b calculated in part a).
d) Calculater and ² and briefly explain what they mean.
e) Compute the standard deviation of errors. I'll give you the answer, but you still
have to show your work: 3.5417. Use this value in the calculation of si, in part
f)
2.25
37
g) Test at a 1% significance level whether B is different from 0.
Use the Critical Value Approach
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