A Study of the Top 75 MBA Programs Attempted to Predict

question 44

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. We are told that the coefficient of correlation was calculated to be r = 0.7763. Use this information to calculate the test statistic that would be used to determine if a positive linear relationship exists between the two variables.

• A) t = 10.52
• B) t = 1.475
• C) t = 1.760
• D) t = 0.6027

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Definitions:

Coverage Error

The error that occurs when the sample does not adequately represent the population being studied, often due to undercoverage or overcoverage.

Statistical Inference

The process of using data analysis to deduce properties of an underlying distribution of probability.

Huge Data

A colloquial term likely referring to "Big Data," which describes extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations.

Big Data

Large volumes of data - both structured and unstructured - that inundate a business on a day-to-day basis.