A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The results are displayed in the accompanying table, and the regression equation and other values are provided. Use this information to complete parts (a) through (c) below. Y = -12,195.7+2.4032X, n n n Σ Υ = 4,230,133, Σ γ = 520,438,426,235, Σ XY; = 234,279,400,152 i=1 i=1 i=1 Click the icon to view the data table. OD. It measures the variability in the actual per-year tuition from the predicted number of starting salary. b. Determine the standard error of the estimate. Syx = (Round to two decimal places as needed.) c. How useful do you think this regression model is for predicting starting salary? Since the value of r² IS the regression model is for predicting starting salary.
A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The results are displayed in the accompanying table, and the regression equation and other values are provided. Use this information to complete parts (a) through (c) below. Y = -12,195.7+2.4032X, n n n Σ Υ = 4,230,133, Σ γ = 520,438,426,235, Σ XY; = 234,279,400,152 i=1 i=1 i=1 Click the icon to view the data table. OD. It measures the variability in the actual per-year tuition from the predicted number of starting salary. b. Determine the standard error of the estimate. Syx = (Round to two decimal places as needed.) c. How useful do you think this regression model is for predicting starting salary? Since the value of r² IS the regression model is for predicting starting salary.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
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Transcribed Image Text:A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year
tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The results are displayed in the accompanying
table, and the regression equation and other values are provided. Use this information to complete parts (a) through (c) below.
Y = -12,195.7+2.4032X;
n
n
Σ Υ = 4,230,133, Σ γ = 520,438,426,235,Σ X,Y, = 234,279,400,152
i=1
i=1
Click the icon to view the data table.
Since the value of
n
O D. It measures the variability in the actual per-year tuition from the predicted number of starting salary.
b. Determine the standard error of the estimate.
Syx = (Round to two decimal places as needed.)
c. How useful do you think this regression model is for predicting starting salary?
₁2
the regression model is
is
i=1
for predicting starting salary.
Transcribed Image Text:2
3
4
5
600
7
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
B2
33
34
35
36
37
38
39
Program Per-Year Tuition ($)
62436
66187
65512
69353
66293
65078
66408
68351
65448
63589
65806
60374
60312
57998
53728
56898
56525
51598
53632
51728
45873
47084
50878
46636
39456
48980
47176
50769
36955
33836
42408
43177
50120
34954
22731
40127
39535
B
Mean Starting Salary Upon Graduation ($)
151351
152400
145418
146395
141355
150629
149034
149346
138484
145576
143848
143832
138034
140859
121773
118826
129034
128982
133093
125595
113262
108755
113320
109666
83168
82609
102431
78076
83533
74662
74116
54936
66331
104071
55340
77274
54719
U
D
E
F
TI
G
H
J
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