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Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An 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 25 data points is shown below. bo = - 92,040 b, = 228 s = 3213 R = 0.66 r= 0.81 df 23 t 6.67 Give a practical interpretation of R² = 0.66. O A. The value of R2 indicates that 66% of the sample variation in SALARY can be explained by using GMAT in a straight-line model. O B. The value of R2 indicates that SALARY can be predicted correctly 66% of the time using GMAT in a straight-line model. O C. The value of R2 indicates that 66% of the differences in SALARY are caused by differences in GMAT scores. O D. The value of R2 indicates that SALARY is estimated to increase $0.66 for every 1-point increase in GMAT.

Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An 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 25 data points is shown below. bo = - 92,040 b, = 228 s = 3213 R = 0.66 r= 0.81 df 23 t 6.67 Give a practical interpretation of R² = 0.66. O A. The value of R2 indicates that 66% of the sample variation in SALARY can be explained by using GMAT in a straight-line model. O B. The value of R2 indicates that SALARY can be predicted correctly 66% of the time using GMAT in a straight-line model. O C. The value of R2 indicates that 66% of the differences in SALARY are caused by differences in GMAT scores. O D. The value of R2 indicates that SALARY is estimated to increase $0.66 for every 1-point increase in GMAT.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An 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 25 data points is shown below. bo = - 92,040 b, = 228 s = 3213 R2 = 0.66 r= 0.81 df = 23 t= 6.67 Give a practical interpretation of R2 = 0.66. O A. The value of R2 indicates that 66% of the sample variation in SALARY can be explained by using GMAT in a straight-line model. B. The value of R2 indicates that SALARY can be predicted correctly 66% of the time using GMAT in a straight-line model. O C. The value of R2 indicates that 66% of the differences in SALARY are caused by differences in GMAT scores. O D. The value of R2 indicates that SALARY is estimated to increase $0.66 for every 1-point increase in GMAT.
Transcribed Image Text:Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An 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 25 data points is shown below. bo = - 92,040 b, = 228 s = 3213 R2 = 0.66 r= 0.81 df = 23 t= 6.67 Give a practical interpretation of R2 = 0.66. O A. The value of R2 indicates that 66% of the sample variation in SALARY can be explained by using GMAT in a straight-line model. B. The value of R2 indicates that SALARY can be predicted correctly 66% of the time using GMAT in a straight-line model. O C. The value of R2 indicates that 66% of the differences in SALARY are caused by differences in GMAT scores. O D. The value of R2 indicates that SALARY is estimated to increase $0.66 for every 1-point increase in GMAT.
Expert Solution
Step 1

Given 

predictor variable = GMAT Score 

Response variable = Starting salary 

n = 25 points 

 

 

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