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 graduates information on their GPA and income (in $1,000s).The following table shows this information. a.Construct a scatterplot and verify that estimating a simple linear regression is appropriate in this case.
b.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 graduates information on their GPA and income (in $1,000s).The following table shows this information.

a.Construct a scatterplot and verify that estimating a simple linear regression is appropriate in this case.
b.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 graduates information on their GPA and income (in $1,000s).The following table shows this information. a.Construct a scatterplot and verify that estimating a simple linear regression is appropriate in this case. b.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