This topic contains a solution. Click here to go to the answer

Author Question: (Situation P) Below are the results of a survey of America's best graduate and professional schools. ... (Read 276 times)

WWatsford

  • Hero Member
  • *****
  • Posts: 539
    • Biology Forums!
(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 t = 6.67.
◦ There is evidence (at α = .05) to indicate that β1 = 0.
◦ Only 6.67% of the sample variation in SALARY can be explained by using GMAT in a straight-line model.
◦ There is evidence (at α = .05) of at least a positive linear relationship between SALARY and GMAT.
◦ We estimate SALARY to increase $6.67 for every 1-point increase in GMAT.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by WWatsford on Feb 14, 2020

akemokai

  • Sr. Member
  • ****
  • Posts: 347
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.
Answer Preview
Only 38% of students answer this correctly




WWatsford

  • Member
  • Posts: 539
Reply 2 on: Feb 14, 2020
Excellent


connor417

  • Member
  • Posts: 329
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

For a complete list of videos, visit our video library