The following is the graph output of running a linear regression model using program per-year tuition as a predictor of mean starting salary upon graduation. Data were collected for 37 full-time MBA programs offered at private universities. Answer the following questions:
Fitted line,
95% C.I. for mean,
95% P.I. for new
i) Find approximate program per-year tuition of these 37 full-time MBA programs.
ii) Find a predicted value of mean starting salary upon graduation if the program per-year tuition is $50,000.
iii) Find an estimated value of eroo standard deviation for this model.
iv) Find the 95% prediction interval for the mean starting salary upon graduation of a program with $40,000 program per-year tuition.
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