Data are collected on starting salaries for graduating undergraduates and the GPA of the students and whether they were a business major (=1) or not (=0) a) Complete the table below b) What is the estimated regression equation? c) How much of the variation in income is explained by the regressors? d) What is the standard error of the error term in the regression equation?

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5) Data are collected on starting salaries for graduating undergraduates and the GPA of the students and whether they were a business major (=1) or not (=0) a) Complete the table below b) What is the estimated regression equation? c) How much of the variation in income is explained by the regressors? d) What is the standard error of the error term in the regression equation?
5) Data are collected on starting salarles for graduating undergraduate and the GPA of
the students and whether they were a business major (=1) or not (-0)
a) Complete the table below
SUMMARY
OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
0.942
15
ANOVA
df
SS
MS
Significance F
Regression
Residual
Total
21.18
10.59 47.50 1.99071E-06
2.68
0.22
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept
GPA
Business
23.45
3.49
0.00
2.77
1.11
0.03
1.31
0.47
0.02
Transcribed Image Text:5) Data are collected on starting salarles for graduating undergraduate and the GPA of the students and whether they were a business major (=1) or not (-0) a) Complete the table below SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.942 15 ANOVA df SS MS Significance F Regression Residual Total 21.18 10.59 47.50 1.99071E-06 2.68 0.22 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept GPA Business 23.45 3.49 0.00 2.77 1.11 0.03 1.31 0.47 0.02
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