Suppose That the Estimated Regression Equation of a College of Business

question 63

Multiple Choice

Suppose that the estimated regression equation of a College of Business graduates is given by: $\hat{ Y }$ = 20,000 + 2000x + 1500D,where y is the starting salary,x is the grade point average and D is a dummy variable which takes the value of 1 if the student is a finance major and 0 if not.A hotel management major graduate with a 3.5 grade point average would have an average starting salary of:

• A) $22,000.
• B) $27,000.
• C) $28,500.
• D) $20,000.

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Definitions:

Simulation

A technique used for experimenting with real-world systems or processes in a virtual environment to study their behavior under various conditions.

Mathematical Equations

Symbolic representations of relationships between variables or quantities that are used to solve problems and express basic principles in numerous disciplines.

Internal Human Resource Supply

Assessment of the current employees' capabilities and potential to meet the future HR needs of an organization.

External Supply

The resources or workforce a company hires or acquires from outside its existing operations to fulfill its needs.