Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. 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 i the accompanying table. Complete parts (a) through (c) below. Click the icon to view the data on program per-year tuition and mean starting salary. a. Construct a 90% confidence interval estimate of the mean starting salary upon graduation of an individual program with per-year tuition cost of $51,000. $HY|X= 51,000 $ (Round to the nearest dollar.)
Program Per-Year Tuition ($) / Mean Starting Salary Upon Graduation ($)
65,028 153,108
68,882 152,647
66,427 145,535
68,299 141,716
65,493 138,899
66,663 155,514
65,232 149,253
68,670 150,841
63,973 133,819
61,996 145,818
67,714 146,807
61,139 147,076
60,836 141,653
57,270 140,262
55,157 122,916
54,127 116,713
55,480 126,086
52,808 127,117
53,414 129,229
49,587 122,170
45,738 111,277
46,552 111,119
49,982 110,673
45,091 108,292
38,565 77,959
48,642 82,789
47,604 101,572
49,252 78,469
39,510 87,786
32,884 74,473
44,782 75,434
42,554 54,547
50,301 64,978
35,013 101,618
23,004 55,030
40,819 80,371
37,604 53,428
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 4 images
