Question
In: Statistics and Probability
The following information gives information on GPAs and starting salaries (rounded to the nearest thousand dollars)...
The following information gives information on GPAs 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 2.25 2.05
Salary 23 28 23 21 32 22 19
a. Find the regression line of the data above.
b. Use the equation of the regression line to predict the value of the salary for a GPA of 3.00.
The following information gives information on GPAs 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 |
2.25 |
2.05 |
|
Salary |
23 |
28 |
23 |
21 |
32 |
22 |
19 |
a. Find the regression line of the data above.
b. Use the equation of the regression line to predict the value of the salary for a GPA of 3.00.
2. a. Interpret the meaning of the values of the slope and y-intercept in problem 1.
b. Compute the linear correlation coefficient and coefficient of determination in problem 1 and briefly (but completely) explain what they mean.
Solutions
orchestra answered 1 year agoRelated Solutions
The table below gives information on GPAs and starting salaries (rounded to the nearest thousand dollars)...
The table below gives information on GPAs and starting salaries
(rounded to the nearest thousand dollars) of 7 recent college
graduates.
GPA
| 2.90
3.81 3.20 2.42 3.94
2.05 2.25
Starting salary
|
38 48
38 35
50 31
37
List the independent variable ___________ and the dependent
variable_________.
Build a table, with column totals containing
x, y, x2, y2, and xy.
Calculate average of y & average of x.
Show formula & work for a, b,
SSxx,...
The followings table gives information on GPAs (grade point average) and starting salaries (rounded to the...
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...
The followings table gives information on GPAs (grade point average) and starting salaries (rounded to the...
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...
16,184,885 rounded to the nearest ten thousand
16,184,885 rounded to the nearest ten thousand
The following data give the odometer mileage (rounded to the nearest thousand miles) for all 20...
The following data give the odometer mileage (rounded to the
nearest thousand miles) for all 20 cars that are for sale at a
dealership.
61
88
58
83
71
40
27
38
52
43
27
40
90
43
95
35
28
47
88
76
a. Calculate the values of the three quartiles
and the interquartile range.
Q1 =
Q2 =
Q3 =
IQR =
b. Find the approximate value of the
19th percentile.
c. Calculate the percentile rank of 71....
An expert who works for a car magazine obtained random data (rounded to the nearest thousand)...
An expert who works for a car magazine obtained random data
(rounded to the nearest thousand) among two categories of used or
new cars:
Domestic
Foreign
The expert would like to understand sales based on list price
(rounded to the nearest thousand dollars), sale price (rounded to
the nearest thousand dollars), and number of days it takes to sell
each car. The complete data set is in the file named Cars.
Managerial Report
Prepare a report (see below) that summarizes...
1. Assume that the starting salaries for the Class of 2013 college graduates is (rounded, in...
1. Assume that the starting salaries for the Class of 2013
college graduates is (rounded, in $1000’s) normally distributed
with µ = 45 and σ = 5. (Based on real data.) a. Sketch and label
the normal curve. b. In what range must a starting salary be for a
graduate to be in (approximately) the highest 16% ? c. In what
range must a starting salary be for a graduate to be in
(approximately) the lowest .15% ? d. In...
V. The following data give the annual salaries (in thousand dollars) of 20 randomly selected health...
V. The following data give the annual salaries (in thousand
dollars) of 20 randomly selected health care workers.
50 71 57 39 45 64 38 53 35 62
74 40 67 44 77 61 58 55 64 59
Prepare a box-and-whisker plot. Is the data set skewed in any
direction? If yes, is it skewed to the right or to the left? Does
this data set contain any outliers?
Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent).
Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2, Other Closing Expenses: $3,611.
A. 7.7%
B. 8.2%
C. 8.5%
D. 9.1%
Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals...
Below are the summary statistics for the starting annual
salaries (in thousands of dollars) for individuals entering the
public accounting and financial planning professions. If the level
of significance is 0.05, is there sufficient evidence that the mean
starting annual salaries for those entering public accounting are
higher than the mean starting salaries for those entering financial
planning? YES or NO?
Sample 1 (public accounting) xbar = 60.35 S = 3.25 n = 12
Sample 2 (fin. planning) xbar =...
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