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Author Question: Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and ... (Read 71 times)

Jipu 123

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on: Jan 16, 2020
Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An academic advisor wants to predict the typical starting salary of a graduate at a top business school using GMAT score of the school as a predictor variable.  Total GMAT scores range from 200 to 800. A simple linear regression of SALARY versus GMAT using 25 data points shown below.
= -92040  1 = 228  s = 3213  R2 = 0.66  r = 0.81  df = 23  t = 6.67
Give a practical interpretation of = -92040.
◦ We estimate SALARY to decrease $92,040 for every 1-point increase in GMAT.
◦ The value has no practical interpretation since a GMAT of 0 is nonsensical and outside the range of the sample data.
◦ We estimate the base SALARY of graduates of a top business school to be $-92,040.
◦ We expect to predict SALARY to within 2(92040) = $184,080 of its true value using GMAT in a straight-line model.
Statistics: Informed Decisions Using Data ¦ Sullivan ¦ 5th Edition
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Marked as best answer by Jipu 123 on Jan 16, 2020

joewallace

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Reply #1 on: Jan 16, 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.
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Jipu 123

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Reply 2 on: Jan 16, 2020
Excellent

xiaomengxian

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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