Choose the One Alternative That Best Completes the Statement or Answers

question 162

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-Each year a nationally recognized publication conducts its "Survey of America's Best Graduate and Professional Schools." An academic advisor wants to predict the typical starting salary of a graduate at a top business school using GMAT score of the school as a predictor variable. A simple linear regression of SALARY versus GMAT using 25 data points shown below.
$$\mathrm { b } _ { 0 } = - 92040 \mathrm {~b} _ { 1 } = 228 \mathrm {~s} = 3213 \mathrm { R } ^ { 2 } = 0.66 \mathrm { r } = 0.81 \mathrm { df } = 23 \mathrm { t } = 6.67$$
Give a practical interpretation of $\mathrm { R } ^ { 2 } = 0.66$ .

• A) \(66 \%\) of the sample variation in SALARY can be explained by using GMAT in a straight-line model.
• B) \(66 \%\) of the differences in SALARY are caused by differences in GMAT scores.
• C) We estimate SALARY to increase \(\$ .66\) for every 1 -point increase in GMAT.
• D) We can predict SALARY correctly \(66 \%\) of the time using GMAT in a straight-line model.

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Definitions:

Coordinate Resources

Involves the efficient and effective management and allocation of organizational resources, such as manpower, finances, and materials, to achieve objectives.

Performance Success

Achieving or exceeding set performance metrics in various aspects such as sales, productivity, or quality, indicating an individual's or organization's effectiveness.

Restructuring

Restructuring changes the scale and/or mix of operations to gain efficiency and improve performance.

Improve Performance

The process of increasing the efficiency, effectiveness, and productivity of an individual, team, or organization.