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Author Question: (Situation P) Below are the results of a survey of America's best graduate and professional schools. ... (Read 303 times)

pragya sharda

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on: Feb 14, 2020
(Situation P)  Below are the results of a survey of America's best graduate and professional schools.  The top 25 business schools, as determined by reputation, student selectivity, placement success, and graduation rate, are listed in the table.  For each school, three variables were measured: (1) GMAT score for the typical incoming student; (2) student acceptance rate (percentage accepted of all students who applied); and (3) starting salary of the typical graduating student.

SchoolGMATAcc. RateSalary
1.Harvard64415.0%             $63,000
2.Stanford66510.260,000
3.Penn64419.455,000
4.Northwestern64022.654,000
5.MIT65021.357,000
6.Chicago63230.055,269
7.Duke63018.253,300
8.Dartmouth64913.452,000
9.Virginia63023.055,269
10.Michigan62032.453.300
11.Columbia63537.152,000
12.Cornell64814.950,700
13.CMU63031.252,050
14.UNC62515.450,800
15.Cal-Berkeley63424.750,000
16.UCLA64020.751,494
17.Texas61228.143,985
18.Indiana60029.044,119
19.NYU61035.053,161
20.Purdue59526.843,500
21.USC61031.949,080
22.Pittsburgh60533.043,500
23.Georgetown61731.745,156
24.Maryland59328.142,925
25.Rochester60535.944,499

The 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.  A simple linear regression of SALARY versus GMAT using the 25 data points in the table are shown below.
-----------------------------------------------------------------------
β0 = -92040    1 = 228     s = 3213     r2 = .66     r = .81    df = 23     t = 6.67
-----------------------------------------------------------------------


For the situation above, give a practical interpretation of r = .81.
◦ We can predict SALARY correctly 81% of the time using GMAT in a straight-line model.
◦ We estimate SALARY to increase 81% for every 1-point increase in GMAT.
◦ 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.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by pragya sharda on Feb 14, 2020

wergv

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Reply #1 on: Feb 14, 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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Only 25% of students answer this correctly


pragya sharda

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

chjcharjto14

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Reply 3 on: Yesterday
Excellent

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