In: Statistics and Probability
2. Consider the following data on salaries and experience. Persons 2,4,6,8,and 9 have MBA degrees. All others only have undergraduate degrees.
b. Print the data set that allows you to do this regression. Sketch the graph the estimated regression that clearly indicates the impact of a MBA degree on Salary.
c. What is the market value of the MBA degree?
Person Salary Experience
1 $130,468 10 Years
2 62,250 1
3 50,000 2.3
4 140,000 9
5 110,000 8
6 80,050 2.8
7 95,772 7
8 110,000 6
9 87,752 4.2
10 79,290 5