This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: (Situation P) Below are the results of a survey of America's best graduate and professional schools. ... (Read 139 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
on: Feb 14, 2020
(Situation P)  Below are the results of a survey of America's best graduate and professional schools.  The top 25 business schools, as determined by reputation, student selectivity, placement success, and graduation rate, are listed in the table.  For each school, three variables were measured: (1) GMAT score for the typical incoming student; (2) student acceptance rate (percentage accepted of all students who applied); and (3) starting salary of the typical graduating student.

SchoolGMATAcc. RateSalary
1.Harvard64415.0%             $63,000
2.Stanford66510.260,000
3.Penn64419.455,000
4.Northwestern64022.654,000
5.MIT65021.357,000
6.Chicago63230.055,269
7.Duke63018.253,300
8.Dartmouth64913.452,000
9.Virginia63023.055,269
10.Michigan62032.453.300
11.Columbia63537.152,000
12.Cornell64814.950,700
13.CMU63031.252,050
14.UNC62515.450,800
15.Cal-Berkeley63424.750,000
16.UCLA64020.751,494
17.Texas61228.143,985
18.Indiana60029.044,119
19.NYU61035.053,161
20.Purdue59526.843,500
21.USC61031.949,080
22.Pittsburgh60533.043,500
23.Georgetown61731.745,156
24.Maryland59328.142,925
25.Rochester60535.944,499

The academic advisor wants to predict the typical starting salary of a graduate at a top business school using GMAT score of the school as a predictor variable.  A simple linear regression of SALARY versus GMAT using the 25 data points in the table are shown below.
-----------------------------------------------------------------------
β0 = -92040    1 = 228     s = 3213     r2 = .66     r = .81    df = 23     t = 6.67
-----------------------------------------------------------------------


For the situation above, give a practical interpretation of 0 = -92040.
◦ The value has no practical interpretation since a GMAT of 0 is nonsensical and outside the range of the sample data.
◦ We estimate the base SALARY of graduates of a top business school to be -$92,040.
◦ We estimate SALARY to decrease $92,040 for every 1-point increase in GMAT.
◦ We expect to predict SALARY to within 2(92040) = $184,080 of its true value using GMAT in a straight-line model.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ss2343 on Feb 14, 2020

Pswine

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 59% of students answer this correctly


ss2343

  • Member
  • Posts: 548
Reply 2 on: Feb 14, 2020
Wow, this really help

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Older adults may grieve intensely over the loss of a person or situation that has been a part of the Older adults may grieve intensely over the loss of a person or situation that has been a part of the
Multiple sclerosis (MS). (a) A disease characterized by the gradual development of small areas of ha Multiple sclerosis (MS). (a) A disease characterized by the gradual development of small areas of ha
The United States in the Caribbean and Central America The United States in the Caribbean and Central America
Honoré Daumier, Fight between Schools, Idealism and Realism. Honoré Daumier, Fight between Schools, Idealism and Realism.
On average, students in Roman Catholic schools score higher on national tests than students in ... On average, students in Roman Catholic schools score higher on national tests than students in ...
North America and the Global Economy North America and the Global Economy
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library