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 ($)
2.6	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 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

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