A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The data are stored in the accompanying table. The least-squares regression equation for these data is Y; = - 10,716.747 + 2.364X; and the standard error of the estimate is Syx = 15,839.846. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below. E Click the icon to view the data on program per-year tuition and mean starting salary. a. At the 0.05 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. Họ: Po * 42140.91385 H;: B1 42140.91385 (Type integers or decimals. Do not round.)
A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The data are stored in the accompanying table. The least-squares regression equation for these data is Y; = - 10,716.747 + 2.364X; and the standard error of the estimate is Syx = 15,839.846. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below. E Click the icon to view the data on program per-year tuition and mean starting salary. a. At the 0.05 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. Họ: Po * 42140.91385 H;: B1 42140.91385 (Type integers or decimals. Do not round.)
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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Please see the attached images for problem data. Appears that I got the problem wrong so can use some great help!
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Data:
Program Per-Year Tuition ($) | Mean Starting Salary Upon Graduation ($) |
63724 | 153070 |
66630 | 155000 |
68013 | 146993 |
68300 | 145146 |
66412 | 139879 |
66543 | 150987 |
67671 | 150702 |
69927 | 148214 |
64602 | 133363 |
63552 | 146360 |
67772 | 146066 |
60752 | 148017 |
62369 | 141289 |
57816 | 136211 |
55621 | 122130 |
56385 | 118657 |
56937 | 128143 |
50884 | 130983 |
53195 | 131361 |
51351 | 120554 |
45123 | 114333 |
48225 | 111894 |
49798 | 109446 |
46568 | 106959 |
39254 | 81908 |
47213 | 80788 |
47633 | 99916 |
51018 | 79430 |
37216 | 88340 |
32877 | 76172 |
42643 | 73728 |
40997 | 52291 |
48807 | 66277 |
34080 | 103181 |
24201 | 56567 |
42467 | 79381 |
39070 | 52931 |
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