- A Prospective Mba Student Would Like To Examine The Factors That Impact Starting Salary Upon Graduation And Decides To D 1 (60.94 KiB) Viewed 22 times
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 = - 13,787.734 + 2.433X, and the standard error of the estimate is Syx = 15,934.001. 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. 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. H (Type integers or decimals. Do not round.) Compute the test statistic. The test statistic is tgra- (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. V H,. 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, B4- The confidence interval is (Round to three decimal places as needed.)
Program Per-Year Tuition ($) 64,538 68,145 65,703 66,613 65,721 66,393 65,603 68,200 64,155 64,021 65,107 60,167 62,808 58,337 54,090 54,935 56,952 52,420 54,028 50,253 46,764 47,552 50,810 44,611 38,288 Mean Starting Salary Upon Graduation ($) 155,556 156,316 145,800 140,915 140,211 153,258 147,422 149,044 135,897 146,441 142,450 143,417 143,025 141,538 122,498 114,900 129,887 130,627 133,884 122,645 115,042 109,691 113,186 105,617 80,833
32,103 44,014 43,049 50,549 35,015 24,325 42,137 38,650 71,196 77,327 54,679 67,190 104,194 58,528 81,295 52,949