John Is an Undergraduate Business Major Studying at a Local

question 71

Essay

John is an undergraduate business major studying at a local university.He wonders how his grade point average (GPA)can affect his future earnings.He asks five recent business school graduates information on their GPA and income (in $1000s).The following table shows this information. a.Construct a scatterplot and verify that estimating a simple linear regression is appropriate in this case.
B)Calculate b₀ and b₁.What is the sample regression equation?
C)Interpret the coefficient for GPA.
D)Find the predicted income earned if a GPA equals 3.0,3.3 and 3.6.

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Definitions:

Executive Agreement

An agreement made between the President and a foreign government that is less formal than a treaty and does not require Senate ratification.

Advice And Consent

A constitutional power given to the U.S. Senate to ratify treaties and approve presidential appointments to the executive and judicial branches.

President

The head of state and head of government in a republic, particularly referring to the chief executive of the United States.

Declare War

The formal announcement by a governmental authority that a state of war exists between it and another nation.