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.
Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater
The Wisconsin Card Sorting Test. This woman is just starting the test. If she places the first card ...
A Scatterplot of the Test Scores and Average Grades of 10 Students
How to find the average atomic mass of an element
Seattle Longitudinal Study
Barenboim's study show the change in children's descriptions of their peers