A Prospective Mba Student Would Like To Examine The Factors That Impact Starting Salary Upon Graduation And Decides To D 1 (59.54 KiB) Viewed 24 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 = - 15,279.459 +2.460x, and the standard error of the estimate is Syx = 15,853.866. 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 0.01 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 tstar- (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 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 99% confidence interval estimate of the population slope, B1- The confidence interval is (Round to three decimal places as needed.)
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