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Program Per-Year Tuition ($) Mean Starting Salary Upon Graduation ($) A. at The 0.01

The document presents data on starting salaries and tuition costs from 37 MBA programs. A linear regression model was developed with starting salary as the dependent variable and tuition as the independent variable. The model was statistically significant, with a slope estimate of 2.33 and a 99% confidence interval of 1.728 to 2.931. This indicates there is a positive linear relationship between starting salary and tuition costs for these MBA programs.

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Rachana Sontakke
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14 views

Program Per-Year Tuition ($) Mean Starting Salary Upon Graduation ($) A. at The 0.01

The document presents data on starting salaries and tuition costs from 37 MBA programs. A linear regression model was developed with starting salary as the dependent variable and tuition as the independent variable. The model was statistically significant, with a slope estimate of 2.33 and a 99% confidence interval of 1.728 to 2.931. This indicates there is a positive linear relationship between starting salary and tuition costs for these MBA programs.

Uploaded by

Rachana Sontakke
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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A prospective MBA student would like to examine the factors that impact starting salary upon graduation and

decides to de
starting salary. Data were collected for 37
​full-time MBA programs offered at private universities. The data are stored in the accompanying table. The​least-squares re
and the standard error of the estimate is SYX=16,074.797.
Assume that the​straight-line model is appropriate and there are no serious violations the assumptions of the​least-squares
LOADING...
Click the icon to view the data on program​per-year tuition and mean starting salary.

x y
Program
Mean
Per-Year
Starting
Tuition
Salary($)
Upon Graduation ($) a. At the 0.01
64107 155551 level of​significance, is there evidence of a linear rela
67682 153674 SUMMARY OUTPUT Determine the hypotheses for the test.
65669 149162 H0​: beta 1β1 = 00H1​: β1≠ 00
68995 144823 Regression Statistics
67897 140277 Multiple R 0.8722738 Compute the test statistic.
67289 151623 R Square 0.7608615 The test statistic is tSTAT=10.5510.55.
67678 146430 Adjusted R 0.754029 ​
67889 152709 Standard E 16074.797 Find the​p-value. The​p-value is 0.000
65558 136133 Observatio 37 Reach a decision.
63690 144922 Reject H0. There is sufficient evidence to conclude th
67673 143297 ANOVA
60206 146067 df SS MS F Significance F
60856 139978 Regression 1 2.88E+10 2.88E+10 111.358698 2.037E-12
58319 139787 Residual 35 9.04E+09 2.58E+08
55267 122280 Total 36 3.78E+10
55664 115501
55667 129031 Coefficients
Standard Error t Stat P-value Lower 95%
52910 128179 Intercept -8622.436 11920.36 -0.723337 0.47427963 -32822.05
51764 130215 Program Per2.3296056 0.22076 10.55 2.0366E-12 1.881439
50978 122381
45450 115844
47324 108378
51081 109441
47241 107448
38758 82630
47610 78154
46431 104369
49987 75654
36833 85003
33131 75824
42947 76051
41115 55098
49741 63002
33543 100394
21713 55018
41524 82639
37984 52473
n graduation and decides to develop a model that uses program​per-year tuition as a predictor of

ing table. The​least-squares regression equation for these data is Yi=−8,622.436+2.330Xi

umptions of the​least-squares regression model. Complete parts​(a) and​(b) below.

there evidence of a linear


​ relationship between the starting salary upon graduation and program​per-year tuition?
eses for the test. ​

AT=10.5510.55.
​
p-value is 0.000

fficient evidence to conclude that there is a linear relationship between the starting salary upon graduation and program ​per-year tuition.

Significance F b. Construct a 99​%


confidence interval estimate of the population​slope, β1.
The confidence interval is 1.7281.728≤β1≤2.9312.931.

Upper 95%Lower 99.0%


Upper 99.0%
15577.18 -41091.18 23846.31
2.777772 1.728298 2.930913
nd program ​per-year tuition.
Program
MeanPer-Year
Starting Tuition
Salary Upon
($) Graduation ($)
62614 150851
67797 157333 SUMMARY OUTPUT
67106 145178
66540 141626 Regression Statistics
66007 139070 Multiple R 0.875275
65348 154597 R Square 0.766106
66425 148210 Adjusted R 0.759424
69901 148161 Standard E 15947.51
63640 137439 Observatio 37
62725 144705
67994 146510 ANOVA
60309 147130 df SS MS F Significance F
61302 139156 Regression 1 2.92E+10 2.92E+10 114.6406 1.377E-12
57189 140956 Residual 35 8.9E+09 2.54E+08
55773 122435 Total 36 3.81E+10
55726 117340
56744 127757 Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
50480 130176 Intercept -12770.68 12124.05 -1.053335 0.299405 -37383.8 11842.44
53047 131066 Program Per2.415033 0.225556 10.70704 1.377E-12 1.957131 2.872936
50344 124542
46994 112074
46908 109260
50460 110770
46000 105824 Regression Statistics
37856 79112 Multiple R 0.875275
47845 82054 R Square 0.766106
46864 104378 Adjusted R 0.759424
50594 78582 Standard E 5779.82
37585 89079 Observatio 37
33440 71298
42706 73854 ANOVA
41687 53670 df SS MS F Significance F
48297 65256 Regression 1 3.83E+09 3.83E+09 114.6406 1.377E-12
33989 102999 Residual 35 1.17E+09 33406314
22406 52976 Total 36 5E+09
41430 77309
39691 54174 Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Intercept 16325.93 3507.819 4.654153 4.539E-05 9204.675 23447.18
Mean Start 0.317224 0.029628 10.70704 1.377E-12 0.257077 0.377371
Lower 90.0%
Upper 90.0%
-33255.13 7713.775
2.03394 2.796126

Lower 90.0%
Upper 90.0%
10399.21 22252.64
0.267166 0.367282

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