The following data give the starting salary for students who recently
The following data give the starting salary for students who recentl
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.
|
Problem 4.20 (regression) |
*millions |
*100,000s |
|||
|
Bus and subway ridership in Washington, DC, during the summer months is believed to be heavily tied to the number of tourists visiting the city. During the past twelve years, the following data have been obtained. |
Year |
Tourist |
Ridership |
||
|
1 |
7 |
15 |
|||
|
2 |
2 |
10 |
|||
|
3 |
6 |
13 |
|||
|
4 |
4 |
15 |
|||
|
5 |
14 |
25 |
|||
|
6 |
15 |
27 |
|||
|
7 |
16 |
24 |
|||
|
8 |
12 |
20 |
|||
|
9 |
14 |
27 |
|||
|
10 |
20 |
44 |
|||
|
11 |
15 |
34 |
|||
|
12 |
7 |
17 |
(a) Plot the data and determine if a linear model is reasonable.
(b) Develop a regression model.
(c) What is the expected ridership if 10m people visit the city?
(d) If there are no tourists at all, explain the predicted ridership?
(e) Use excel to develop a regression model for the data in Problem 4.20. Explain what excel output indicates about the usefulness of this model.
Calculate the price of your order
Select your paper details and see how much our professional writing services will cost.
- Freebies
- Format
- Formatting (MLA, APA, Chicago, custom, etc.)
- Title page & bibliography
- 24/7 customer support
- Amendments to your paper when they are needed
- Chat with your writer
- 275 word/double-spaced page
- 12 point Arial/Times New Roman
- Double, single, and custom spacing
-
We care about originality
Our custom human-written papers from top essay writers are always free from plagiarism.
-
We protect your privacy
Your data and payment info stay secured every time you get our help from an essay writer.
-
You control your money
Your money is safe with us. If your plans change, you can get it sent back to your card.
How it works
-
1
You give us the detailsComplete a brief order form to tell us what kind of paper you need.
-
2
We find you a top writerOne of the best experts in your discipline starts working on your essay.
-
3
You get the paper doneEnjoy writing that meets your demands and high academic standards!
Get your own paper from top experts
Order nowPerks of our essay writing service
We offer more than just hand-crafted papers customized for you. Here are more of our greatest perks.
Frequently asked questions
Get instant answers to the questions that students ask most often.
See full FAQ