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 2.6 3.4 3.6 3.2 3.5 2.9 Monthly Salary ($) 3,600 3,900 4,200 3,800 4,300 3,900 The estimated regression equation for these data is ŷ = 2,133.78 + 567.57x and MSE = 24,155.41. (a) Develop a point estimate of the starting salary (in dollars) for a student with a GPA of 2.7. (Round your answer to the nearest cent). $ (b) Develop a 95% confidence interval for the mean starting salary (in dollars) for all students with a 2.7 GPA. (Round your answers to the nearest cent). to $ (c) Develop a 95% prediction interval (in dollars) for Ryan Dailey, a student with a GPA of 2.7. (Round your answers to the nearest cent). to $

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Operation mangment

 

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
2.6
3.4
$
3.6
3.2
3.5
2.9
Monthly Salary
($)
3,600
3,900
to $
4,200
3,800
4,300
The estimated regression equation for these data is ŷ = 2,133.78 + 567.57x and MSE = 24,155.41.
(a) Develop a point estimate of the starting salary (in dollars) for a student with a GPA of 2.7. (Round your answer to the nearest cent).
$
3,900
(b) Develop a 95% confidence interval for the mean starting salary (in dollars) for all students with a 2.7 GPA. (Round your answers to the nearest cent).
$
(c) Develop a 95% prediction interval (in dollars) for Ryan Dailey, a student with a GPA of 2.7. (Round your answers to the nearest cent).
to $
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 2.6 3.4 $ 3.6 3.2 3.5 2.9 Monthly Salary ($) 3,600 3,900 to $ 4,200 3,800 4,300 The estimated regression equation for these data is ŷ = 2,133.78 + 567.57x and MSE = 24,155.41. (a) Develop a point estimate of the starting salary (in dollars) for a student with a GPA of 2.7. (Round your answer to the nearest cent). $ 3,900 (b) Develop a 95% confidence interval for the mean starting salary (in dollars) for all students with a 2.7 GPA. (Round your answers to the nearest cent). $ (c) Develop a 95% prediction interval (in dollars) for Ryan Dailey, a student with a GPA of 2.7. (Round your answers to the nearest cent). to $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 3 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman