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 | 4,300 |
3.2 | 3,700 |
3.5 | 4,200 |
2.9 | 2,300 |
The estimated regression equation for these data is = -544.6 + 1,310.8x and MSE =340,878. Use Table 1 of Appendix B.
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).
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