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Author Question: A study of the top 75 MBA programs attempted to predict the average starting salary (in $1000s) of ... (Read 122 times)

shofmannx20

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on: Feb 14, 2020
A study of the top 75 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. The results of a simple linear regression analysis are shown below:

Least Squares Linear Regression of Salary  

Predictor
Variables Coefficient Std Error T P
Constant 18.1849 10.3336 1.76 0.0826
Size 1.47494 0.14017 10.52 0.0000

R-Squared           0.6027      Resid. Mean Square (MSE)    532.986
Adjusted R-Squared  0.5972      Standard Deviation          23.0865

Interpret the estimated slope of the regression line.
◦ For every $1000 increase in the tuition charged by the MBA program, we estimate that the average starting salary will increase by $1474.94.
◦ For every $1474.94 increase in the tuition charged by the MBA program, we estimate that the average starting salary will increase by $18,184.90.
◦ For every $1000 increase in the average starting salary, we estimate that the tuition charged by the MBA program will increase by $1474.94.
◦ For every $1000 increase in the tuition charged by the MBA program, we estimate that the average starting salary will decrease by $1474.94.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by shofmannx20 on Feb 14, 2020

blakcmamba

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Reply #1 on: Feb 14, 2020
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shofmannx20

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Reply 2 on: Feb 14, 2020
YES! Correct, THANKS for helping me on my review

gcook

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Reply 3 on: Yesterday
Excellent

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