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A Study of the Top 75 MBA Programs Attempted to Predict

question 94

Multiple Choice

A study of the top 75 MBA programs attempted to predict the average starting salary (in $1000's) of graduates of the program based on the amount of tuition (in $1000's) charged by the program. The results of a simple linear regression analysis are shown below: Least Squares Linear Regression of Salary

$\begin{array}{lrrcl}\text {Predictor}\\\text { Variables } & \text { Coefficient } & \text { Std Error } & \text { T } & \text { P } \\\text { Constant } & 18.1849 & 10.3336 & 1.76 & 0.0826 \\\text { Size } & 1.47494 & 0.14017 & 10.52 & 0.0000\end{array}$

R-Squared $\quad\quad\quad \quad 0.6027 \quad$ Resid. Mean Square (MSE) $532.986$
Adjusted R-Squared $\quad0.5972\quad$ Standard Deviation $\quad\quad\quad 23.0865$

In addition, we are told that the coefficient of correlation was calculated to be $r = 0.7763$ . Interpret this result.

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