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
Source DF SS MS F P
Regression 2 67140.9 33570.5 78.53 0.0000
Residual 72 30780.8 427.5
Total 74 97921.7
Interpret the p-value for the global f-test shown on the printout.
◦ At α = 0.05, there is insufficient evidence to indicate that the average GMAT score of the MBA program's students is useful for predicting the average starting salary of the graduates of an MBA program.
◦ At α = 0.05, there is insufficient evidence to indicate that something in the regression model is useful for predicting the average starting salary of the graduates of an MBA program.
◦ At α = 0.05, there is sufficient evidence to indicate that something in the regression model is useful for predicting the average starting salary of the graduates of an MBA program.
◦ At α = 0.05, there is sufficient evidence to indicate that the average GMAT score of the MBA program's students is useful for predicting the average starting salary of the graduates of an MBA program.
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