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

Author Question: A study of the top MBA programs attempted to predict the average starting salary (in $1000's) of ... (Read 192 times)

geodog55

  • Hero Member
  • *****
  • Posts: 530
on: Feb 14, 2020
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 VIF
Constant -203.402 51.6573 -3.94 0.0002 0.0
Gmat 0.39412 0.09039 4.36 0.0000 2.0
Tuition 0.92012 0.17875 5.15 0.0000 2.0

The model was then used to create 95% confidence and prediction intervals for y and for E(Y) when the tuition charged by the MBA program was $75,000 and the GMAT score was 675. The results are shown here:

95% confidence interval for E(Y): ($126,610, $136,640)
95% prediction interval for Y: ($90,113, $173,160)

Which of the following interpretations is correct if you want to use the model to estimate E(Y) for all MBA programs?
◦ We are 95% confident that the average of all starting salaries for graduates of all MBA programs that charge $75,000 in tuition and have an average GMAT score of 675 will fall between $90,113 and $173,16,30.
◦ We are 95% confident that the average starting salary for graduates of a single MBA program that charges $75,000 in tuition and has an average GMAT score of 675  will fall between $90,113 and $173,16,30.
◦ We are 95% confident that the average of all starting salaries for graduates of all MBA programs that charge $75,000 in tuition and have an average GMAT score of 675 will fall between $126,610 and $136,640.
◦ We are 95% confident that the average starting salary for graduates of a single MBA program that charges $75,000 in tuition and has an average GMAT score of 675 will fall between $126,610 and $136,640.
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 geodog55 on Feb 14, 2020

underwood14

  • Sr. Member
  • ****
  • Posts: 346
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 25% of students answer this correctly


geodog55

  • Member
  • Posts: 530
Reply 2 on: Feb 14, 2020
Great answer, keep it coming :)

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it. In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Study Duddy 2 Study Duddy 2
These findings are from Colby and Kohlberg's long-term longitudinal study These findings are from Colby and Kohlberg's long-term longitudinal study
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ... Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ...
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library