Model is useful in predicting the starting salary

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Reference no: EM131078191

Can you please show the detail including the regression model and how you determined the dollar amounts? The following data give the starting salary for students who recently graduated from a local university and accepted jobs soon after graduation. The starting salary, grade-point average (GPA), and major (business or other) are provided. Salary $29,500 $46,000 $39,800 $36,500 GPA 3.1 3.5 3.8 2.9 Major Other Business Other Salary $42,000 $31,500 $36,200 GAP 3.4 2.1 2.5 Major Business Other Business a) Using a computer, develop a regression model that could be used to predict starting salary based on GPA and major. (b) Use this model to predict the starting salary for a business major with a GPA of 3.0. (c) What does the model say about the starting salary for a business major compared to a non business major? (d) Do you believe this model is useful in predicting the starting salary? Justify your answer, using information provided in the computer output. Comment

Reference no: EM131078191

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