144 THE STARTING SALARY CASEStartsalThe chairman of the marketing department at a large state university undertakes a study to relatestarting salary (y) after graduation for marketing majors to grade point average (GPA) in majorcourses. To do this, records of seven recent marketing graduates are randomly selected, and thedata shown below on the left are obtained. The MINITAB output obtained by fitting a least squaresregression line to the data is below on the right.Starting Salary,Fitted Line PlotMarketingy (ThousandsStartSal= 14.82 +5.707 GPAGraduate GPA, x of Dollars)13.2633.82.6029.833.52,8630.43.8236.42.2127.63.4735.3de Startsal2.02.5aFind the least squares point estimates b, and b, on the computer output and report their values.Interpret b, and b,. Does the interpretation of b, make practical sense?bUse the least squares line to compute a point estimate of the mean starting salary for allmarketing graduates having a grade point average of 3.25 and a point prediction of thestarting salary for an individual marketing graduate having a grade point average of 3.25.Question 3THE NATURAL GAS CONSUMPTION CASE OS GasCon1When a least squares line is fit to the 8 observations in the natural gas consumption data, we obtainSSE 2.568. Calculates and s.THE STARTING SALARY CASE 5 Starts.When a least squares line is fit to the 7 observations in the starting salary data, we obtainSSE 1.438. Calculates and s.235PJespers28

Given, The chairman of the marketing department at a large state university undertakes a stdy to…

Answered: 14.4 THE STARTING SALARY CASE StartSal…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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