7.

Question7

Now, mean center the UGPA variable. That is, subtract the mean value of UGPA from all the data points. Denote this mean centered variable as [UGPA].

Run a regression as follows,

SALARY = 0 + 1IB + 2[UGPA]

Round the estimated value of 0 to a whole number and interpret it. Please mark all that apply.

1 point

60,630$ is the salary of a IB Major with a UGPA equal to the average UGPA observed in the data.

60,630$ is the salary of a FINANCE Major with 0 UGPA

60,630$ is the value of the Y variable when all X variables are zero.

60,630$ is the salary of a FINANCE Major with a UGPA equal to the average UGPA observed in the data.

8.

Question8

Based on the regression carried out in Question 7, how much less salary (in dollars) does a IB Major get as compared to a FINANCE Major, when they have the same UGPAs. Round your answer to a whole number. Input the answer without any "$" or "," sign.

Data:

https://docs.google.com/spreadsheets/d/1v0yeyIggohI9Rk1mWKS7-qRIkmL5m2DjxkgefLq9-ck/edit?usp=sharing