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Author Question: A study of the top MBA programs attempted to predict the average starting salary (in $1000's) of ... (Read 99 times)

MGLQZ

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on: Feb 14, 2020
A study of the top 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 and the average GMAT score of the program's students. The results of a regression analysis based on a sample of 75 MBA programs is shown below:

Least Squares Linear Regression of Salary

Predictor
Variables Coefficient Std Error T P VIF
Constant -203.402 51.6573 -3.94 0.0002 0.0
Gmat 0.39412 0.09039 4.36 0.0000 2.0
Tuition 0.92012 0.17875 5.15 0.0000 2.0

R-Squared 0.6857 Resid. Mean Square (MSE) 427.511
Adjusted R-Squared 0.6769 Standard Deviation 20.6763

Interpret the coefficient for the tuition variable shown on the printout.
◦ For every $1000 increase in the tuition charged by the MBA program, we estimate that the average starting salary will increase by $920.12, holding the GMAT score constant
◦ For every $1000 increase in the tuition charged by the MBA program, we estimate that the average starting salary will decrease by $203,402, holding the GMAT score constant.
◦ For every $1000 increase in the tuition charged by the MBA program, we estimate that the average starting salary will increase by $394.12, holding the GMAT score constant
◦ For every $1000 increase in the average starting salary, we estimate that the tuition charged by the MBA program will increase by $920.12.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by MGLQZ on Feb 14, 2020

xMRAZ

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Reply #1 on: Feb 14, 2020
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MGLQZ

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Reply 2 on: Feb 14, 2020
Great answer, keep it coming :)

laurnthompson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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