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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 54 times)

xclash

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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

One of the t-test test statistics is shown on the printout to be the value t = 6.03. 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 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 there is a curvilinear 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.


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Marked as best answer by xclash on Feb 14, 2020

annierak

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xclash

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Reply 2 on: Feb 14, 2020
Thanks for the timely response, appreciate it


dyrone

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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