Question: PLEASE DO FOLLOWING QUESTION ON EXCEL. Thanks in advance 4-21 The following data give the starting salary for students who recently graduated from a local

PLEASE DO FOLLOWING QUESTION ON EXCEL. Thanks in advance

4-21 The following data give the starting salary for students who recently graduated from a local university and accepted jobs soon after graduation. The starting salary, grade-point average (GPA), and major (business or other) are provided.

SALARY

$29,500

$46,000

$39,800

$36,500

$42,000

$31,500

$36,200

GPA

3.1

3.5

3.8

2.9

3.4

2.1

2.5

Major

Other

Business

Business

Other

Business

Other

Business

a. Using a computer, develop a regression model that could be used to predict starting salary based on GPA and major.

b. Use this model to predict the starting salary for a business major with a GPA of 3.0.

c. What does the model say about the starting salary for a business major compared to a nonbusiness major?

d. Do you believe this model is useful in predicting the starting salary? Justify your answer, using information provided in the computer output.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!