A study of the top MBA programs attempted to predict the average starting salary (in $1000ʹs) of graduates of the program based on the amount of tuition (in $1000ʹs) charged by the program and
The average GMAT score of the programʹs students. The results of a regression analysis based on a
Sample of 75 MBA programs is shown below: Least Squares Linear Regression of Salary
Predictor
The model was then used to create confidence and prediction intervals for and for when the tuition charged by the MBA program was and the GMAT score was 675 . The results are shown here:
confidence interval for :
prediction interval for :
Which of the following interpretations is correct if you want to use the model to estimate for a single MBA program?
A) We are confident that the average starting salary for graduates of a single MBA program that charges in tuition and has an average GMAT score of 675 will fall between and .
B) We are confident that the average starting salary for graduates of a single MBA program that charges in tuition and has an average GMAT score of 675 will fall between and .
C) We are confident that the average of all starting salaries for graduates of all MBA programs that charge in tuition and have an average GMAT score of 675 will fall between and .
D) We are confident that the average of all starting salaries for graduates of all MBA programs that charge in tuition and have an average GMAT score of 675 will fall between and .
Correct Answer:
Verified
Q33: A study of the top MBA
Q34: In any production process in which
Q35: As part of a study at
Q36: In any production process in which
Q37: As part of a study at
Q39: In any production process in which
Q40: As part of a study at
Q41: We decide to conduct a multiple
Q42: Consider the partial printout below.
Q43: A study of the top MBA
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents