Question

The followings table gives information on GPAs (grade point average) and starting salaries (rounded to the nearest thousand dollars) of seven recent college graduates.  

GPA	2.90	3.81	3.20	2.42	3.94	2.05	2.25
Starting Salary	23	28	23	21	32	19	22

1) Predict the starting salary for a student graduating with a 3.60 GPA. (Enter your answer in thousands of dollars rounded to two decimal places. Such as 12,345.67)

2) Predict the starting salary for a student graduating with a 2.10 GPA. (Enter your answer in thousands of dollars rounded to two decimal places. Such as 12,345.67)

3) Predict the starting salary for a student graduating with a 3.95 GPA. (Enter your answer in thousands of dollars rounded to two decimal places. Such as 12,345.67)

Answer 1

The independent variable is GPA, and the dependent variable is Starting Salary.

	GPA	Starting Salary	GPA*Starting Salary	GPA2	Starting Salary2
	2.90	23	66.7	8.41	529
	3.81	28	106.68	14.5161	784
	3.20	23	73.6	10.24	529
	2.42	21	50.82	5.8564	441
	3.94	32	126.08	15.5236	1024
	2.05	19	38.95	4.2025	361
	2.25	22	49.5	5.0625	484
Sum =	20.57	168	512.33	63.8111	4152

Based on the above table, the following is calculated:

Therefore, based on the above calculations, the regression coefficients (the slope m, and the y-intercept n) are obtained as follows

Therefore, we find that the regression equation is:

Starting Salary = 7.7119 + 5.5429 GPA

1) GPA =3.6

Starting Salary = 7.7119 + 5.5429 GPA

Starting Salary = 7.7119 + 5.5429*3.6

Starting Salary = 7.7119 + 19.95444

Starting Salary = 27,666.34

2) GPA = 2.10

Starting Salary = 7.7119 + 5.5429 GPA

Starting Salary = 7.7119 + 5.5429*2.10

Starting Salary = 7.7119 + 11.64009

Starting Salary = 19,351.99‬

3) GPA = 3.95

Starting Salary = 7.7119 + 5.5429 GPA

Starting Salary = 7.7119 + 5.5429*3.95

Starting Salary = 7.7119 + 21.894455‬

Starting Salary = 29,606.35

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