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 with a major in information systems. The estimated regression equation for these data is yˆ = 1790.5 = 581.1x.
GPA Monthly Salary ($)
2.6 ...........3300
3.4 ...........3600
3.6 ...........4000
3.2 ...........3500
3.5 ...........3900
2.9 ...........3600
a. Compute SST, SSR, and SSE.
b. Compute the coefficient of determination r2. Comment on the goodness of fit.
c. What is the value of the sample correlation coefficient?