Author Question: An academic advisor wants to predict the typical starting salary of a graduate at a top business ... (Read 131 times)

mpobi80 · **on:** Feb 14, 2020

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 r² = .66.
◦ We expect to predict SALARY to within 2

of its true value using GMAT in a straight-line model.
◦ We can predict SALARY correctly 66% of the time using GMAT in a straight-line model.
◦ 66% of the sample variation in SALARY can be explained by using GMAT in a straight-line model.
◦ We estimate SALARY to increase $.66 for every 1-point increase in GMAT.

ashely1112 · **Reply #1 on:** Feb 14, 2020

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