Question
In: Statistics and Probability
The following data are the monthly salaries y and the grade point averages x for students...
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 ($) |
| 2.6 | 3,500 |
| 3.4 | 3,900 |
| 3.6 | 4,300 |
| 3.2 | 3,800 |
| 3.5 | 4,200 |
| 2.9 | 2,200 |
The estimated regression equation for these data is
y=-674.3+1,351.4x and MSE=395,912.
Use Table 1 of Appendix B.
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to 1 decimal).
b. Develop a 95% confidence interval for the mean starting salary for all students with a 3.0 GPA (to 2 decimals).
( , )
c. Develop a prediction interval for Ryan Dailey, a student with a GPA of 3.0 (to 2 decimals).
( , )
d. Discuss the differences in your answers to parts (b) and (c).
Solutions
orchestra answered 1 year agoRelated Solutions
The following data are the monthly salaries y and the grade point averages x for students...
The following data are the monthly salaries y and the grade
point averages x for students who obtained a bachelor's degree in
business administration.
GPA
Monthly Salary ($)
2.7
3,600
3.5
3,800
3.6
4,200
3.2
3,700
3.4
4,200
2.8
2,400
The estimated regression equation for these data is y^ = -464.3
+ 1285.7x and MSE = 259,464
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to 1 decimal).
b. Develop...
The following data are the monthly salaries y and the grade point averages x for students...
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 ($)
2.6
3,600
3.5
3,800
3.6
4,300
3.2
3,700
3.5
4,100
2.8
2,400
The estimated regression equation for these data is =
40.7 + 1,127.9x and MSE =280,233.
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...
The following data are the monthly salaries y and the grade point averages x for students...
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 ($)
2.6
3,600
3.4
3,800
3.6
4,300
3.2
3,700
3.4
4,100
3
2,400
The estimated regression equation for these data is y= 350 +
1031.3x and MSE = 383594.
Use Table 1 of Appendix B.
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to...
The following data are the monthly salaries y and the grade point averages x for students...
The following data are the monthly salaries y and the
grade point averages x for students who obtained a
bachelor's degree in business administration.
GPA
Monthly Salary ($)
2.6
3,600
3.4
3,900
3.6
4,300
3.2
3,700
3.5
4,200
2.9
2,200
The estimated regression equation for these data is =
-414.9 + 1,270.3x and MSE =425,236
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...
The following data are the monthly salaries y and the grade point averages x for students...
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 3,600 3.5 3,800
3.6 4,200 3.1 3,700 3.5 4,100 2.8 2,500 The estimated regression
equation for these data is ŷ = -55.3 + 1,157.9x and MSE =209,013.
a. Develop a point estimate of the starting salary for a student
with a GPA of 3.0 (to 1 decimal). $ b. Develop a...
The following data are the monthly salaries y and the grade point averages x for students...
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 ($)
2.6
3,500
3.4
3,900
3.6
4,300
3.2
3,800
3.5
4,200
2.9
2,200
The estimated regression equation for these data is
y=-674.3+1,351.4x and MSE=395,912.
Use Table 1 of Appendix B.
a. Develop a point estimate of the starting
salary for a student with a GPA of 3.0 (to 1 decimal).
b. Develop a...
The following data are the monthly salaries y and the grade point averages xfor students who...
The following data are the monthly salaries y and the
grade point averages xfor students who obtained a
bachelor's degree in business administration.
GPA
Monthly Salary ($)
2.6
3,600
3.5
3,800
3.6
4,300
3.1
3,800
3.4
4,200
3
2,200
The estimated regression equation for these data is =
358.6 + 1,028.6x and MSE =533,607. 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).
$...
The grade point averages for 11 randomly selected students are listed below. Assume the data are...
The grade point averages for 11 randomly selected students are
listed below. Assume the data are normally distributed.
2.0 3.2 1.8 2.9 0.9 4.0 3.3 2.9 3.6 0.8 2.7
Construct a 99% confidence interval for the population standard
deviation
Sample grade point averages for ten male students and ten female students are listed. Find the...
Sample grade point averages for ten male students and ten female
students are listed. Find the coefficient of variation for each of
the two data sets. Then compare the results. Males 2.6 3.8 3.9 3.8
2.7 2.6 3.4 3.5 3.8 1.8 Females 2.7 3.9 2.2 3.8 3.5 4.1 2.1 3.8 3.9
2.5 The coefficient of variation for males is nothing%. (Round to
one decimal place as needed.)
Sample grade point averages for ten male students and ten female students are listed. Find the...
Sample grade point averages for ten male students and ten female
students are listed. Find the coefficient of variation for each of
the two data sets. Then compare the results
Males 2.5 3.8 3.6 3.9 2.6 2.6 3.6 3.2 3.9 1.8
Females 2.8 3.5 2.1 3.7 3.5 4.1 2.1 3.9 3.9 2.3
The coefficient of variation for males is __%.
The Coefficient of variation for females Is __ %
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