Question

The following data are the monthly salaries *y* and the
grade point averages *x* for students who obtained a
bachelor's degree in business administration.

GPA |
Monthly Salary ($) |

2.7 | 3,600 |

3.5 | 3,800 |

3.7 | 4,200 |

3.2 | 3,700 |

3.4 | 4,200 |

2.7 | 2,400 |

The estimated regression equation for these data is = -277.3 +
1,227.3*x* and MSE =217,386.

**a.** Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to 1 decimal).

$

**b.** Develop a 95% confidence interval for the
mean starting salary for all students with a 3.0 GPA (to 2
decimals).

$ ( , )

**c.** Develop a 95% prediction interval for Ryan
Dailey, a student with a GPA of 3.0 (to 2 decimals).

$ ( , )

Answer #1

a)

The point estimate of the starting salary for a student with a GPA of 3.0 is

Monthly Salary = -277.3 + 1227.3 * 3.0 = 3404.6

b)

Independent variable (x): GPA

Following table shows the calculations:

GPA, X | X^2 | |

2.7 | 7.29 | |

3.5 | 12.25 | |

3.7 | 13.69 | |

3.2 | 10.24 | |

3.4 | 11.56 | |

2.7 | 7.29 | |

Total | 19.2 | 62.32 |

Sample size: n=6

Now,

Since MSE = 217386 so

The critical value of t for 95% confidence interval with df = 4 is 2.776.

The 95% confidence interval for the mean starting salary for all students with a 3.0 GPA is

The required 95% confidence interval is (2808.49, 4000.71).

(c)

The 95% prediction interval for the mean starting salary for all students with a 3.0 GPA is

The required 95% prediction interval is (1979.62, 4829.58)

The following data are the monthly salaries y and the grade
point averages x for students who obtained a bachelor's degree in
business administration. GPA Monthly Salary ($) 2.7 3,600 3.4 3,800
3.7 4,200 3.1 3,800 3.5 4,200 2.8 2,300 The estimated regression
equation for these data is = -430 + 1,275x and MSE =293,625. a.
Develop a point estimate of the starting salary for a student with
a GPA of 3.0 (to 1 decimal). $ b. Develop a 95%...

The following data are the monthly salaries y and the grade
point averages x for students who obtained a bachelor's degree in
business administration. GPA Monthly Salary ($) 2.7 3,500 3.5 3,900
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equation for these data is ŷ = -568.2 + 1,318.2x and MSE =181,477.
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with a GPA of 3.0 (to 1 decimal). $ b. Develop a...

The following data are the monthly salaries y and the
grade point averages x for students who obtained a
bachelor's degree in business administration.
GPA
Monthly Salary ($)
2.6
3,500
3.5
3,900
3.6
4,200
3.1
3,700
3.5
4,100
2.9
2,500
The estimated regression equation for these data is =
210 + 1,075x and MSE =247,625.
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to 1 decimal).
$
b. Develop a 95% confidence...

The following data are
the monthly salaries y and the grade point averages
x for students who obtained a bachelor's degree in
business administration.
GPA
Monthly Salary
($)
2.6
3,500
3.4
3,900
3.6
4,200
3.1
3,800
3.5
4,200
3
2,300
The estimated
regression equation for these data is ŷ = 84.3 + 1,114.3x
and MSE =416,464.
a.
Develop a point estimate of the starting salary for a student with
a GPA of 3.0 (to 1 decimal).
$
b.
Develop a...

The following data are the monthly salaries y and the
grade point averages x for students who obtained a
bachelor's degree in business administration.
GPA
Monthly Salary
($)
2.6
3600
3.4
3900
3.6
4300
3.2
3800
3.5
4200
2.9
3900
The estimated regression equation for these data is =
2090.5 + 581.1x and MSE = 21,284.
Round your answer to two decimal places.
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to...

-------------How would part b and c be calculated in
excel ? --------------
The following data are the monthly salaries y and the
grade point averages x for students who obtained a
bachelor's degree in business administration.
GPA
Monthly Salary ($)
2.6
3,500
3.4
3,800
3.6
4,300
3.1
3,700
3.5
4,100
3
2,500
The estimated regression equation for these data is ŷ = 267.1 +
1,057.1x and MSE =303,179.
a. Develop a point estimate of the starting
salary for a student...

The following data are the monthly salaries y and the grade
point average for students who obtained a bachelor's degree in
business administration with a major in information systems
GPA
2.6
3.4
3.6
3.2
3.5
Monthly salary
3300
3600
4000
3500
3900
3600
Question
1 What is estimate of b1 equal to?
a) 351.1
b) 581.1
c) 842.5
d) 15.8
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b) 1790.5
c) 1415.8
d) 1612.8
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The GPAs from the sample are as follows: 2.3 3.3 2.6 1.8 0.9 3.1
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b-If the population is assumed to be normally distributed,
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OF VARIANCE
The average of grade
point averages (GPAs) of college courses in a specific major is a
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study to find out whether the difficulty levels of different majors
are the same. For such a study, a random sample of major grade
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is selected for each of the four majors mathematics, English,
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The following data
provide the starting salary for students who recently graduated
from a local university and accepted jobs soon after graduation.
The starting salary, grade-point average (GPA), and major (business
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SALARY
$29,500
$46,000
$39,800
$36,500
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3.1
3.5
3.8
2.9
Major
Other
Business
Business
Other
SALARY
$42,000
$31,500
$36,200
GPA
3.4
2.1
2.5
Major
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Other
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Using a computer, develop a regression model that could be used
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