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 results are displayed in the accompanying table, and the regression equation and other values are provided. Use this information to complete parts (a) through (c) below.\[ \hat{Y}_i = -12,195.7 + 2.4032X_i \]\[\sum_{i=1}^{n} Y_i = 4,230,133,\quad \sum_{i=1}^{n} Y_i^2 = 520,438,426,235,\quad \sum_{i=1}^{n} X_i Y_i = 234,279,400,152\]- Click the icon to view the data table.**Tasks:****a.** Determine the variability in the actual per-year tuition from the predicted number of starting salary.**b.** Determine the standard error of the estimate.\[ S_{YX} = \, \_\_\_ \](Round to two decimal places as needed.)**c.** How useful do you think this regression model is for predicting starting salary?Since the value of $ r^2 $ is \[ \_\_\_\_ \]the regression model is \[ \_\_\_\_ \] for predicting starting salary. This table provides a detailed comparison of program tuition costs per year with the mean starting salary upon graduation. The table aims to assist prospective students in evaluating the potential return on investment for various educational programs.### Table Description:- **Column A: Program Per-Year Tuition ($)** - Provides the annual tuition cost for different programs. - Tuition fees range from $39,553 to $66,187.- **Column B: Mean Starting Salary Upon Graduation ($)** - Displays the average starting salary that graduates earn upon completing their respective programs. - Starting salaries vary from $54,719 to $151,351.### Data Insights:1. **Highest Tuition and Salary:** - The highest program tuition is $66,187 with a mean starting salary of $152,400.2. **Lowest Tuition and Salary:** - The lowest program tuition is $39,553 with a mean starting salary of $54,719.3. **Potential Return on Investment:** - Programs with higher tuition tend to correspond with higher starting salaries, indicating a potential link between the investment in education and initial career earnings.4. **Variation in Cost vs. Income:** - There is significant variation in both tuition costs and starting salaries, highlighting the need for careful consideration when selecting a program.This information serves as a valuable resource for students assessing the financial implications and benefits of their educational choices.

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Answered: A prospective MBA student would like to…

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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The datasetBody.xlsgives the percent of weight made up of body fat for 100 men as well as other variables such as Age, Weight (lb), Height (in), and circumference (cm) measurements for the Neck, Chest, Abdomen, Ankle, Biceps, and Wrist. We are interested in predicting body fat based on abdomen circumference. Find the equation of the regression line relating to body fat and abdomen circumference. Make a scatter-plot with a regression line. What body fat percent does the line predict for a person with an abdomen circumference of 110 cm? One of the men in the study had an abdomen circumference of 92.4 cm and a body fat of 22.5 percent. Find the residual that corresponds to this observation. Bodyfat Abdomen 32.3 115.6 22.5 92.4 22 86 12.3 85.2 20.5 95.6 22.6 100 28.7 103.1 21.3 89.6 29.9 110.3 21.3 100.5 29.9 100.5 20.4 98.9 16.9 90.3 14.7 83.3 10.8 73.7 26.7 94.9 11.3 86.7 18.1 87.5 8.8 82.8 11.8 83.3 11 83.6 14.9 87 31.9 108.5 17.3…
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