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U.S. News & World Report publishes the average starting salary and the average GMAT score for MBA graduates at each of the top 80 ranked schools in the country. The data fit the following regression line: Y = 288X - 111,408 where X is the average GMAT score for students at a school and Y is the average starting salary for graduates from that same school. What is the estimated average starting salary for a school with an average GMAT of 600 points?
a. $58,390
b. $62,408
c. $61,392
d. $71,408
10. Consider the following two variables: X = Length of hospital stay by any given patient (days) Y = Cost of the patient's hospital stay (dollars) What do you expect about the relationship between these variables?
a. Strong positive correlation, but no causation between them.
b. Strong positive correlation, and we expect longer stays to cost more for patients with similar illnesses.
c. Strong positive correlation, and we expect higher costs to cause longer stays for patients with similar illnesses.
d. None of the above.
Which combination of factors produces smallest risk of Type I error?
Construct a 95% confidence interval on the population mean for the following sample data set:
At the 0.10 significance level, can we conclude that the annual rates of return are higher on the big board?
Suppose you obtain a 100 bag random sample by taking 25 subgroups of 4 bags each, the mean weight of the 25 subgroups was 16.00 ounces with a total of the subgroup ranges of 87.5 oz.
Any person who is familiar with these trees understand the height of a California redwood tree which is related to another characteristics of the tree.
Test the claim that for the adult population of one town, the mean annual salary is given by μ = $30,000.
Make a scatter plot, illustrate the regression lines. Determine the correlation coefficient between husband’s and wife’s education for couples in which wife is employed full time?
What is the number of personnel records that should be sampled, at minimum, to satisfy the requirements?
I want to estimate within $10 the mean salary of all graduates who were business majors in college. How many business majors would be needed to estimate the mean salary to within 10 with 95% confidence if the population standard deviation is $200.
Suppose that the average annual salary for a worker in the United States is $30,000 and that annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Determine the following:
Within distribution of scores, measures of dispersion give an indication of?
Perform 5 t-tests on the data comparing C1 to C2 on each of the 5 questions. Indicate which of the 5 variables has a difference between C1 and C2.
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