The following data are the monthly salaries y and the grade point averages x for

Question

The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor's degree in business administration. GPA Monthly Salary($) 3,600 3,900 4,200 3.5 3.6 3.1 3.5 2.8 4,100 2,400 The estimated regression equation for these data is y 350 + 1,250x and MSE -236,875. a. Develop a point estimate of the starting salary for a student with a GPA of 3.0 (to 1 decimal). 2700.0 an starting salary for all students with a 3.0 GPA (to 2 decimals). b. Develop a 95% confidence interval for the me s ( G Develop a 95% prediction interval for Ryan Dailey, a student with a GPA of 3.0 (to 2 decimals). s (

Explanation / Answer

a) Point Estimate of GPA = -350+1250*3

= 3400

b) 95% Interval would be

(-300.04, 2800.04)

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