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 universitles. The data are stored in the accompanying table. The least-squares regression equation for these data is Y, = -9,946.935 + 2.363x, and the standard error of the estimate is Syx = 15,951.444. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below. E Click the icon to view the data on program per-year tuition and mean starting salary. a. At the 0.10 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. Ho H (Type integers or decimals. Do not round.) Compute the test statistic. The test statistic is ISTAT O (Round to two decimal places as needed.) Find the p-value. The p-value isO (Round to three decimal places as needed.) Reach a decision. V Họ. There is V evidence to conclude that there is a linear relationship bettween the starting salary upon graduation and program per-year tuition. b. Construct a 90% confidence interval estimate of the population slope. P The confidence interval isOs, sO (Round to three decimal places as needed.)
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 universitles. The data are stored in the accompanying table. The least-squares regression equation for these data is Y, = -9,946.935 + 2.363x, and the standard error of the estimate is Syx = 15,951.444. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below. E Click the icon to view the data on program per-year tuition and mean starting salary. a. At the 0.10 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. Ho H (Type integers or decimals. Do not round.) Compute the test statistic. The test statistic is ISTAT O (Round to two decimal places as needed.) Find the p-value. The p-value isO (Round to three decimal places as needed.) Reach a decision. V Họ. There is V evidence to conclude that there is a linear relationship bettween the starting salary upon graduation and program per-year tuition. b. Construct a 90% confidence interval estimate of the population slope. P The confidence interval isOs, sO (Round to three decimal places as needed.)
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.CR: Review Exercises
Problem 90CR
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Question
Transcribed Image Text:Program Per-Year
Tuition ($)
62,317
68,899
67,849
69,131
65,171
67,464
67,307
69,005
64,177
61,954
65,216
62,479
62,156
58,187
54,764
55,487
54,588
53,115
52,642
51,360
46,229
46,901
49,627
45,404
37,176
Mean Starting Salary
Upon Graduation (S)
155,400
155,252
149,235
141,665
141,683
156,258
149,116
148,084
135,084
144,022
145,240
148,899
140,005
138,667
122,987
117,718
127,732
126,874
129,398
122,286
113,115
110,103
113,390
108,060
82,894
80,740
103,763
77,773
84,334
73,607
77,091
46,332
48,271
49,761
39,070
32,880
44,753
41,836
49,834
33,917
21,788
40,865
38,308
49,682
64,902
103,713
56,026
79,606
56,550
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 data are stored in the accompanying
table. The least-squares regression equation for these data is Y; = - 9,946.935 +2.363X; and the standard error of the estimate is Syx = 15,951.444. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below.
E Click the icon to view the data on program per-year tuition and mean starting salary.
a. At the 0.10 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition?
Determine the hypotheses for the test.
Ho:
H1:
(Type integers or decimals. Do not round.)
Compute the test statistic.
The test statistic is tsTAT =
(Round to two decimal places as needed.)
Find the p-value.
The p-value is
(Round to three decimal places as needed.)
Reach a decision.
Ho- There is
evidence to conclude that there is a linear relationship between the starting salary upon graduation and program per-year tuition.
b. Construct a 90% confidence interval estimate of the population slope, B1.
The confidence interval issB, s
(Round to three decimal places as needed.)
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