36. For the situation above, give a practical interpretation of Bo= -92040 37. For the situation above, give a practical interpretation of B₁ = 228
36. For the situation above, give a practical interpretation of Bo= -92040 37. For the situation above, give a practical interpretation of B₁ = 228
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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Needed to be solved part 36 and 37 correclty in 30 minutes and get the thumbs up. Please show neat and clean work
Transcribed Image Text:(Situation Problem: Please use the following situation to answer question 34 - 41.)
Below are the results of a survey of America's best graduate and professional schools. The top 25 business
schools, as determined by reputation, student selectivity, placement success, and graduation rate, are listed in
the table. For each school, three variables were measured: (1) GMAT score for the typical incoming student;
(2) student acceptance rate (percentage accepted of all students who applied); and (3) starting salary of the
typical graduating student.
School
GMAT
Salary
Acc. Rate
15.0%
1.
Harvard
644
$ 63,000
2.
Stanford
665
10.2
60,000
3.
Penn
644
19.4
55,000
4. Northwestern
640
22.6
54,000
5.
MIT
650
21.3
57,000
6.
Chicago
632
30.0
55,269
7.
Duke
630
18.2
53,300
8.
Dartmouth
649
13.4
52,000
9.
Virginia
630
23.0
55,269
10. Michigan 620
32.4
53.300
11. Columbia
635
37.1
52,000
12. Cornell
648
14.9
50,700
13. CMU
630
31.2
52,050
14. UNC
625
15.4
50,800
15. Cal-Berkeley 634
24.7
50,000
16. UCLA
640
20.7
51,494
17. Texas
612
28.1
43,985
Indiana
600
29.0
44,119
18.
19. NYU
610
35.0
53,161
20.
Purdue
595
26.8
43,500
21.
USC
610
31.9
49,080
22.
Pittsburgh 605
33.0
43,500
23.
Georgetown 617
31.7
45,156
24.
Maryland
593
28.1
42,925
25. Rochester
605
35.9
44,499
Transcribed Image Text:The academic advisor wants to predict the typical starting salary of a graduate at a top business school using
GMAT score of the school as a predictor variable. A simple linear regression of SALARY versus GMAT using
the 25 data points in the table are shown below.
Po=-92040 1=228
s=3213 2.66 r = .81 df = 23
t = 6.67
34. For the situation above, write the equation of the probabilistic model of interest.
35. For the situation above, write the equation of the least squares line.
36. For the situation above, give a practical interpretation of Bo= -92040
37. For the situation above, give a practical interpretation of ß₁ = 228
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