Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. 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 data are stored i the accompanying table. Complete parts (a) through (c) below. Click the icon to view the data on program per-year tuition and mean starting salary. a. Construct a 90% confidence interval estimate of the mean starting salary upon graduation of an individual program with per-year tuition cost of $51,000. $HY|X= 51,000 $ (Round to the nearest dollar.)

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Program Per-Year Tuition ($)  /  Mean Starting Salary Upon Graduation ($)
65,028    153,108
68,882    152,647
66,427    145,535
68,299    141,716
65,493    138,899
66,663    155,514
65,232    149,253
68,670    150,841
63,973    133,819
61,996    145,818
67,714    146,807
61,139    147,076
60,836    141,653
57,270    140,262
55,157    122,916
54,127    116,713
55,480    126,086
52,808    127,117
53,414    129,229
49,587    122,170
45,738    111,277
46,552    111,119
49,982    110,673
45,091    108,292
38,565    77,959
48,642    82,789
47,604    101,572
49,252    78,469
39,510    87,786
32,884    74,473
44,782    75,434
42,554    54,547
50,301    64,978
35,013    101,618
23,004    55,030
40,819    80,371
37,604    53,428

Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but
the high costs come with hopes of career advancement and high salaries. 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 data are stored in
the accompanying table. Complete parts (a) through (c) below.
Click the icon to view the data on program per-year tuition and mean starting salary.
a. Construct a 90% confidence interval estimate of the mean starting salary upon graduation of an individual program
with per-year tuition cost of $51,000.
|HY|X=51,000 $
(Round to the nearest dollar.)
Transcribed Image Text:Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. 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 data are stored in the accompanying table. Complete parts (a) through (c) below. Click the icon to view the data on program per-year tuition and mean starting salary. a. Construct a 90% confidence interval estimate of the mean starting salary upon graduation of an individual program with per-year tuition cost of $51,000. |HY|X=51,000 $ (Round to the nearest dollar.)
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