### Educational Program DataThis table presents data on the annual tuition costs of various educational programs alongside the mean starting salary upon graduation. This information can guide prospective students in making informed decisions about their educational investments.#### Data Table:| Program Per-Year Tuition ($) | Mean Starting Salary Upon Graduation ($) ||-------------------------------|------------------------------------------|| 62486 | 155737 || 68484 | 154423 || 67889 | 149313 || 67050 | 143503 || 67290 | 140925 || 66183 | 153696 || 69704 | 147799 || 69860 | 149794 || 64013 | 134756 || 63704 | 147521 || 66855 | 142518 || 62839 | 143619 || 60049 | 141792 || 57985 | 138082 || 55895 | 125249 || 53947 | 114639 || 54645 | 127846 || 53374 | 127392 || 52975 | 130064 || 49195 | 123958 || 42639 | 115916 || 47459 | 111221 || 48355 | 110846 || 47415 | 106083 || 38236 | 79315 || 44250 | 79529 || 48726 | 79529 || 48050 | 103321 || 51251 | 74754 || 37375 | 86946 || 32404 | 72656 || 44264 | 76078 || 40984 | 53979 || 49388 | 63709 || 43286 | 102611 || 23635 | 53719 || 41299 | 81335 || 38862 | 51657 |This data could assist in evaluating the potential return on investment of various education **Exploring the Relationship Between MBA Tuition and Starting Salaries**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 (e) below.[Click the icon to view the data on program per-year tuition and mean starting salary.]**Graph Descriptions:**1. **Graph 1:** - **Y-axis:** Tuition - **X-axis:** Starting Salary ($) - Scatter plot showing a set of points indicating the relationship between starting salaries and tuition fees.2. **Graph 2:** - **Y-axis:** Tuition - **X-axis:** Starting Salary ($) - Another scatter plot with visible data points, indicating a similar relationship as in Graph 1.3. **Graph 3:** - **Y-axis:** Starting Salary - **X-axis:** Tuition ($) - Scatter plot showing the relationship between starting salary and tuition, but with flipped axes compared to Graphs 1 and 2.4. **Graph 4:** - **Y-axis:** Starting Salary - **X-axis:** Tuition ($) - A scatter plot similar to Graph 3, showing the same relationship but plotted again for clarity.**b. Determining Regression Coefficients:**Assuming a linear relationship, use the least-squares method to determine the regression coefficients $b_0$ and $b_1$.- $b_0 = $ [Enter value rounded to nearest integer]- $b_1 = $ [Enter value rounded to two decimal places](Round the value of $b_0$ to the nearest integer as needed. Round the value of $b_1$ to two decimal places as needed.)

Given information: Tuition Salary 62486 155737 68484 154423 67888 149313 67050 143503…

Answered: Pursuing an MBA is a major personal…

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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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. a. Construct a 95% confidence interval estimate of the mean starting salary upon graduation of an individual program with per-year tuition cost of $50,050. b. Construct a 95% prediction interval of the starting salary upon graduation of an individual program with per-year tuition cost of $50,050.
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Tuition	Salary
62486	155737
68484	154423
67888	149313
67050	143503
67792	140925
66183	153696
66648	147799
69860	149794
64013	143756
63704	147521
66855	142518
62839	143619
60049	141792
57895	138082
55895	125249
53947	114639
54645	127846
53374	127392
52975	130064
49195	123958
44629	115916
47459	111221
48355	110846
47415	106083
38386	79315
48726	79529
48050	103321
51251	74754
37376	86946
32404	72656
44246	76078
40984	53979
49238	63709
33366	102611
23635	53719
41729	81335
38862	51657