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Author Question: An academic advisor wants to predict the typical starting salary of a graduate at a top business ... (Read 47 times)

ec501234

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on: Feb 14, 2020

Question 1

True or False.

A low value of the correlation coefficient r implies that x and y are unrelated.
◦ True
◦ False

Question 2

An academic advisor wants to predict the typical starting salary of a graduate at a top business school using the GMAT score of the school as a predictor variable. A simple linear regression of SALARY versus GMAT using 25 data points is shown below.

0 = -92040  1 = 228  s = 3213  r2 = .66  r = .81  df = 23  t = 6.67

Give a practical interpretation of r = .81.
◦ 81% of the sample variation in SALARY can be explained by using GMAT in a straight-line model.
◦ There appears to be a positive correlation between SALARY and GMAT.
◦ We estimate SALARY to increase 81% for every 1-point increase in GMAT.
◦ We can predict SALARY correctly 81% of the time using GMAT in a straight-line model.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by ec501234 on Feb 14, 2020

bimper21

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Reply #1 on: Feb 14, 2020
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ec501234

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

kilada

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

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