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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 218 times)

cherise1989

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Question 1

A study of the top MBA programs attempted to predict y = the average starting salary (in $1000's) of graduates of the program based on x = the amount of tuition (in $1000's) charged by the program. After first considering a simple linear model, it was decided that a quadratic model should be proposed. Which of the following models proposes a 2nd-order quadratic relationship between x and y?
◦ E(y) = β0 + β1x1 + β2x12 + β3x13
◦ E(y) = β0 + β1x1
◦ E(y) = β0 + β1x1 + β2x2 + β3x1x2
◦ E(y) = β0 + β1x1 + β2x12

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 169.910 26.5350 6.40 0.0000
Tuition -3.37373 0.81171 -4.16 0.0001    
TxT 0.03563 0.00590 6.03 0.0000    


R-Squared0.7361Resid. Mean Square (MSE)358.887
Adjusted R-Squared 0.7288 Standard Deviation 18.9443

Source DF SS MS F P
Regression 2 72081.8 36040.9 100.42 0.0000
Residual 72 25839.8 358.9
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 = 100.42. Interpret this value.
◦ There is sufficient evidence, at α = 0.05, to indicate that there is a linear relationship between average starting salary of graduates of MBA programs and the tuition of the MBA program.
◦ 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 sufficient evidence, at α = 0.05, to indicate that there is a curvilinear relationship between average starting salary of graduates of MBA programs and the tuition of the MBA program.
◦ 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.


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Marked as best answer by cherise1989 on Feb 14, 2020

eliasc0401

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cherise1989

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Reply 2 on: Feb 14, 2020
Wow, this really help


cpetit11

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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