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, = - 13,128.249 +2.420X, and the standard error of the estimate is Syx = 15,949.966. 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 H, (Type integers or decimals. Do not round) Compute the test statistic. The test statistic is tsTAT"O (Round to two decimal places as needed.) Find the p-value. The p-value isO (Round to three decimal places as needed.) Reach a decision. Họ. There is V evidence to conclude that there is a linear relationship between the starting salary upon graduation and program per-year tuition. b. Construct a 95% confidence interval estimate of the population slope, P, The confidence interval isOsP, sO (Round to three decimal places as needed.)
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, = - 13,128.249 +2.420X, and the standard error of the estimate is Syx = 15,949.966. 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 H, (Type integers or decimals. Do not round) Compute the test statistic. The test statistic is tsTAT"O (Round to two decimal places as needed.) Find the p-value. The p-value isO (Round to three decimal places as needed.) Reach a decision. Họ. There is V evidence to conclude that there is a linear relationship between the starting salary upon graduation and program per-year tuition. b. Construct a 95% confidence interval estimate of the population slope, P, The confidence interval isOsP, sO (Round to three decimal places as needed.)
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.CR: Chapter 1 Review
Problem 86CR
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Question
Transcribed Image Text: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; = - 13,128.249 + 2.420X; and the standard error of the estimate is Syx = 15,949.966. 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.
Ho:
H1: V
(Type integers or decimals. Do not round.)
Compute the test statistic.
The test statistic is tsTAT =
(Round to two decimal places as needed.)
Find the p-value.
The p-value is.
(Round to three decimal places as needed.)
Reach a decision.
Ho. There is
evidence to conclude that there is a linear relationship between the starting salary upon graduation and program per-year tuition.
b. Construct a 95% confidence interval estimate of the population slope, B,.
The confidence interval issP, s.
(Round to three decimal places as needed.)
Transcribed Image Text:Program Per-Year
Tuition ($)
64,404
68,144
66,607
69,134
67,927
67,103
65,624
69,779
63,065
63,623
65,390
61,318
60,752
56,825
56,157
56,261
55,959
Mean Starting Salary
Upon Graduation ($)
155,288
156,313
147,609
145,956
144,623
154,679
147,465
152,202
133,717
145,646
143,017
145,719
138,913
138,513
126,631
117,552
127,903
132,474
129,797
123,439
116,284
106,430
109,709
110,062
82,741
80,739
104,796
74,653
85,998
53,344
51,984
50,650
47,385
45,921
49,072
46,834
39,242
48,045
48,359
49,058
38,187
32,857
44,337
43,167
48,354
34,119
22,379
42,808
39,705
72,705
77,972
54,916
62,799
102,401
54,635
82,636
55,057
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