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An MBA admissions officer wishes to predict an MBA applicant's grade point average (GPA) for the MBA program on the basis of the applicant's score on the Graduate Management Admission Test (GMAT) and their undergraduate GPA (UGPA) . The admissions officer used a random sample of previously admitted applicants to build a regression tree that can be used to predict the MBA GPAs of future MBA students. Below is the final regression tree. Based on this regression tree, how many of the admitted applicants in the sample had a GMAT score of at least 650?
Wage Rate
The amount of compensation a worker receives per unit of time or output.
Labor Demand Curve
A graphical representation that shows the relationship between the quantity of labor demanded by firms and the wage rate.
Competitive Market
A market structure characterized by a large number of buyers and sellers, free entry and exit, and a homogeneous product.
Marginal Product
The extra output generated from adding a single unit of a specific input, with all other inputs remaining unchanged.
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