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Author Question: A study of the top 75 MBA programs attempted to predict the average starting salary (in $1000s) of ... (Read 121 times)

jrubin

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on: Feb 14, 2020
A study of the top 75 MBA programs attempted to predict the average starting salary (in $1000’s) of graduates of the program based on the amount of tuition (in $1000’s) charged by the program. The results of a simple linear regression analysis are shown below:

Least Squares Linear Regression of Salary  

Predictor
Variables Coefficient Std Error T P
Constant 18.1849 10.3336 1.76 0.0826
Size 1.47494 0.14017 10.52 0.0000

R-Squared           0.6027      Resid. Mean Square (MSE)    532.986
Adjusted R-Squared  0.5972      Standard Deviation          23.0865

In addition, we are told that the coefficient of correlation was calculated to be r = 0.7763. Interpret this result.
◦ There is almost no linear relationship between the amount of tuition charged and the average starting salary variables.
◦ There is a fairly strong negative linear relationship between the amount of tuition charged and the average starting salary variables.
◦ There is a very weak positive linear relationship between the amount of tuition charged and the average starting salary variables.
◦ There is a fairly strong positive linear relationship between the amount of tuition charged and the average starting salary variables.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by jrubin on Feb 14, 2020

SomethingSomething

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Reply #1 on: Feb 14, 2020
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jrubin

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Reply 2 on: Feb 14, 2020
Excellent

carojassy25

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Reply 3 on: Yesterday
Wow, this really help

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