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) = β
0 + β
1x
1 + β
2x
12 + β
3x
13◦ E(y) = β
0 + β
1x
1◦ E(y) = β
0 + β
1x
1 + β
2x
2 + β
3x
1x
2◦ E(y) = β
0 + β
1x
1 + β
2x
12Question 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-Squared | 0.7361 | Resid. 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.
Uranus revolves around the Sun once every 84 Earth years. Its average distance from the Sun is rough
Average Global Temperature Rise over the Past Century
CS-US Relationships Predict Conditioning
Study of human diseases
Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ...
In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ...