How do you explain how to get the answer for D and E? Problem 1. (30 pts) In pla

Question

How do you explain how to get the answer for D and E?

Problem 1. (30 pts) In planning for an initial orientation meeting with new accounting majors, the chairman of the Accounting Department wants to emphasize the importance of doing well in the major courses in order to get better-paying jobs after graduation. He uses the records on GPA and starting salary (in thousands S) of seven of last year's accounting graduates to fit the regression equation a. (14 pts) Complete the ANOVA table ANOVA df MS Regression Residual Total 400 600 Coefficients tandard t Stat P-value Error Intercept 4500 2.05 1.115 XXXXXX XXXXXX 0.925 XXXXXX XXXXxx b. (3 pts) The T-statistic for testing the significance of the predictor is equal to (check one) 2.05 (7 pts) Compute a 95% confidence interval for the slope (show your work here and write your answer 2.22 0.925 1.90 c. in the box below) Confidence Interval d. (3 pts) Use your result above to check one of the following: GPA is a significant predictor of starting salary Stating salary is a good predictor of GPA There is not enough data to say whether the predictor is good or not (Need to run a t-test) GPA is not a good predictor of starting salary -Starting salary is not a significant predictor of GPA e. (3 pts) Which is more likely to be the p-value for the test of significance of the slope? (Check one) -p=0.001 001 -p=.0512

Explanation / Answer

d) The answer is obtained by regressing GPA on starting salary as well regressing starting salary on GPA.In both cases we check the p-value associated with the slope of the regression, if its less than .01 for 99% significance, then the predictor is highly significant otherwise its not.

e) This is also answer by checking the p-value of the t statistic associated with the slope.

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