The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration. GPA Monthly Salary ($) 2.7 3,500 3.4 3,900 3.6 4,200 3.1 3,800 3.5 4,100 2.9 2,400 The estimated regression equation for these data is y = -550 + 1,312.5x and MSE =268,125. Use Table 1 of Appendix B. a. Develop a point estimate of the starting salary for a student with a GPA of 3.0 (to 1 decimal). $ b. Develop a 95% confidence interval for the mean starting salary for all students with a 3.0 GPA (to 2 decimals). $ ( c. Develop a 95% prediction interval for Ryan Dailey, a student with a GPA of 3.0 (to 2 decimals). $ (

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The following data are the monthly salaries y and the grade point averages x
for students who obtained a bachelor's degree in business administration.
GPA
Monthly Salary ($)
2.7
3,500
3.4
3,900
3.6
4,200
3.1
3,800
3.5
4,100
2.9
2,400
The estimated regression equation for these data is y = -550 + 1,312.5x and
MSE =268,125. Use Table 1 of Appendix B.
a. Develop a point estimate of the starting salary for a student with a GPA of
3.0 (to 1 decimal).
b. Develop a 95% confidence interval for the mean starting salary for all
students with a 3.0 GPA (to 2 decimals).
$ (
c. Develop a 95% prediction interval for Ryan Dailey, a student with a GPA of
3.0 (to 2 decimals).
$ (
Transcribed Image Text:The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration. GPA Monthly Salary ($) 2.7 3,500 3.4 3,900 3.6 4,200 3.1 3,800 3.5 4,100 2.9 2,400 The estimated regression equation for these data is y = -550 + 1,312.5x and MSE =268,125. Use Table 1 of Appendix B. a. Develop a point estimate of the starting salary for a student with a GPA of 3.0 (to 1 decimal). b. Develop a 95% confidence interval for the mean starting salary for all students with a 3.0 GPA (to 2 decimals). $ ( c. Develop a 95% prediction interval for Ryan Dailey, a student with a GPA of 3.0 (to 2 decimals). $ (
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