John is an undergraduate business major studying at a local university. He wonders how his grade point average (GPA) can affect his future earnings. He asks five recent business school for graduates information on their GPA and income (in $1,000s). The following table shows this information. a. Use software to construct a scatterplot, Verify that estimating a simple linear regression is appropriate in this case.
B) Use software to calculate b₀ and b₁. What is the sample regression equation?
C) Interpret the coefficient for GPA.
D) Find the predicted income earned if a GPA equals 3.0, 3.3, and 3.6.

Question

John is an undergraduate business major studying at a local university. He wonders how his grade point average (GPA) can affect his future earnings. He asks five recent business school for graduates information on their GPA and income (in $1,000s). The following table shows this information.

a. Use software to construct a scatterplot, Verify that estimating a simple linear regression is appropriate in this case.
B) Use software to calculate b₀ and b₁. What is the sample regression equation?
C) Interpret the coefficient for GPA.
D) Find the predicted income earned if a GPA equals 3.0, 3.3, and 3.6.

Quizplus · Accepted Answer

The Answer of John is an undergraduate business major studying at a local university. He wonders how his grade point average (GPA) can affect his future earnings. He asks five recent business school for graduates information on their GPA and income (in $1,000s). The following table shows this information. a. Use software to construct a scatterplot, Verify that estimating a simple linear regression is appropriate in this case. B) Use software to calculate b₀ and b₁. What is the sample regression equation? C) Interpret the coefficient for GPA. D) Find the predicted income earned if a GPA equals 3.0, 3.3, and 3.6.

John Is an Undergraduate Business Major Studying at a Local