Question

student randomly sampled the college important for earning a good salary? A business statistics graduated frialaries and college grade point averages of t to answer the following questions. The regression printout for his efforts is below. Use ANOVA 126.75 126.75 21.57447 0 003523 Regression Stadistics Residual 8 35.25 875 R Square 0.782407 Adjusted R 0748142 4 284784 2100456 0 080427 65 1300405 4 4644832 0 003523 3075778

Answer 1

Ans e) In the regression modeling output given above, we have for the predictor variable GPA, p-value = 0.003523

As p-value << 0.05, GPA is a very strong predictor of starting salary. Hence, as coefficient of GPA predictor variable in the model is positive, there exists a very strong positive relationship between the GPA and starting salary.

Ans f) From the regression output, we get the Lower 95% and Upper 95% values which give us the 95% confidence interval for true population slope coefficient as: (3.076, 9.924)

Ans g)   The regression model equation is:

Starting Salary = 6.5*GPA + 9

Hence Starting Salary for a student graduating with GPA = 2.80 can be calculated as:

Starting Salary = 6.5 * 2.8 + 9 = 27.2