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Author Question: A study of the top MBA programs attempted to predict the average starting salary (in $1000's) of ... (Read 60 times)

appyboo

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Question 1

A college admissions officer proposes to use regression to model a student's college GPA at graduation in terms of the following two variables:

x1 = high school GPA
x2 = SAT score

The admissions officer believes the relationship between college GPA and high school GPA is linear and the relationship between SAT score and college GPA is linear. She also believes that the relationship between college GPA and high school GPA depends on the student's SAT score. Write the regression model she should fit.

Question 2

A study of the top 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 and the average GMAT score of the program's students. The results of a regression analysis based on a sample of 75 MBA programs is shown below:

Least Squares Linear Regression of Salary

Predictor
Variables Coefficient Std Error T P
Constant -687.851 165.406 4.16 0.0001
Tuition -11.3197 2.19724 -5.15 0.0000
GMAT -0.96727 0.25535 -3.79 0.0003
TxG 0.01850 0.00331 5.58 0.0000

R-Squared 0.7816 Resid. Mean Square (MSE) 301.251
Adjusted R-Squared 0.7723 Standard Deviation 17.3566

Source DF SS MS F P
Regression 3 76523.8 25510.9 84.68 0.0000
Residual 71 21388.8 301.3
Total 74 97921.7

Cases Included 75    Missing Cases 0

The global-f test statistic is shown on the printout to be the value F = 84.68. Interpret this value.
◦ There is insufficient evidence, at α = 0.05, to indicate that at least one of the variables proposed in the interaction model is useful at predicting the average starting salary of graduates of MBA programs.
◦ There is insufficient evidence, at α = 0.05, to indicate that the interaction between average tuition and average GMAT score is a useful predictor of the average starting salary of graduates of MBA programs.
◦ There is sufficient evidence, at α = 0.05, to indicate that at least one of the variables proposed in the interaction model is useful at predicting the average starting salary of graduates of MBA programs.
◦ There is sufficient evidence, at α = 0.05, to indicate that the interaction between average tuition and average GMAT score is a useful predictor of the average starting salary of graduates of MBA programs.


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Marked as best answer by appyboo on Feb 14, 2020

shoemake

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appyboo

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Reply 2 on: Feb 14, 2020
YES! Correct, THANKS for helping me on my review


isabelt_18

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Reply 3 on: Yesterday
:D TYSM

 

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