Predict the average starting salary and bonus

Assignment Help Econometrics
Reference no: EM13186088

School Tuition & Fees ($) Salary & Bonus ($)
Arizona State University 28,220 98
Babson College 35,110 94
Cornell University 44,260 119
Georgetown University 40,017 109
Georgia Institute of Technology 30,016 88
Indiana University-Bloomington 34,852 105
Michigan State University 26,131 99
Northwestern University 43,935 123
Ohio State University 35,337 97
Purdue University-West Lafayette 33,462 96
Rice University 35,558 102
Stanford University 45,921 135
University of California - Davis 34,874 89
University of Florida 23,103 71
University of Iowa 24,920 78
University of Minnesota-Twin Cities 36,596 100
University of Notre Dame 36,040 95
University of Rochester 37,791 99
University of Washington 29,543 94
University of Wisconsin-Madison 26,536 93

a)Develop an estimated regression equation that can be used to predict the starting salary and bonus paid to graduates given the recruiter assessment score.

b)Develop an estimated regression equation that can be used to predict the starting salary and bonus paid to graduates given both the recruiter assessment score and the out- of- state tuition and fees.

c)Is the estimated regression coefficient for the recruiter score the same in part ( a) and in part ( b)? Interpret the coefficient in each case.

d)For the part (b) model, which, if any, of the independent variables is statistically significant?

e)Suppose that we randomly select a recent graduate of the University of Virginia graduate school of business. This school has a recruiter assessment score of 4.1 and an out- of- state tuition and fees of $ 43,000. Predict the average starting salary and bonus for this graduate and give a 95% confidence interval.

f)For the same values in (d), give a 95% prediction interval.

g)Explain the difference between the 95% confidence interval and prediction interval in parts (e) and (f) above.

Reference no: EM13186088

Questions Cloud

Investigate the role of advertising in a culture of consumer : Summarize the ways in which advertising has affected American culture. Illustrate your findings with specific examples. If you use external references, make sure to list your references on the last slide.
How does the cost per ticket change as you buy more tickets : A table shows number of tickets and ticket cost, describe the pattern. How does the cost per ticket change as you buy more tickets?
State cyclopropane is converted to propene : At high temperature, cyclopropane is converted to propene, the materialfrom which polypropylene plastics are made. The reactionwas monitored and the data below was collected:
Determine the shape of the distribution : The grades of 22 students are listed below. Use the stem & leaf to determine the shape of the distribution.
Predict the average starting salary and bonus : Suppose that we randomly select a recent graduate of the University of Virginia graduate school of business. This school has a recruiter assessment score of 4.1 and an out- of- state tuition and fees of $ 43,000. Predict the average starting salar..
State the carbacation to produce trimethyl : the carbacation to produce 2,4,4-trimethyl-2-pentene and 2,4,4-trimethyl-1-pentene. in order to calculate the % yield, could you help with the correct balanced equation for this reaction, as i would need the moles ratio?
Which mover provides a better deal for 2 hours of work : For what values h (hours) does Quick Move offer the better deal? Express your answer as an inequality. Explain how you reached your answer.
What is the goal of computer forensics : What is the goal of computer forensics? How do investigators retrieve and analyze data?How is the information used in investigations?
Use x and y to denote floor plan one and floor plan : The sales representative here tells you they also have two floor plans available, but they only have 42 homes still for sale. Write an equation that illustrates the situation. Use x and y to denote floor plan one and floor plan two respectively.

Reviews

Write a Review

Econometrics Questions & Answers

  How to solve for market equilibrium price and quantity

Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P

  What change in govt purchases and taxes would be needed

Suppose instead that the goverment wished to raise GDP to 7,100, but it was unwilling to run a surplus or deficit. Therefore the change in government purchases would have to be matched by and equal change in taxes. What change in government purcha..

  Explanation of yield curve

The following statement was released through FOMC following recent meeting on March 21. The Group, although hopeful for a future of moderate growth with moderating inflation,

  Find the maximum profit

A frim determines that X units of its product can be sold daily at P dollars per units per day is C(x) =120-1/2p and where the cost of producing X units per day is C(X)=10+30x A) Assuming that the production capacity is 40 units per day, determine..

  Describe the firms decision at this price-output level

Suppose that a perfectly competitive firm faces a market price $10 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,200 units. If the firm produ..

  Find equilibrium wage

Explain a possible cause for the change in Ns 4. Estimate the elasticity of demand for B&B professionals in the macroeconomy (calculation and explanation) 5. Graph the two equilibrium conditions 2 X-intercept for Ns; Y-intercept and X-intercept for N..

  Describe standard normal distribution

Define a variable Z that is a function of the sample average ? and follows a standard normal distribution. What is the probability that ? will be in the interval [1, 3] What is the probability that ? will be in the interval [-1, 1] What is the probab..

  What interest should she get to be able to retire as desired

Ann Isabel, a recent graduate from Tech, would like to be a millionaire when she will retire after 30 years. She would like to start with a deposit of $1,000 at the end of the first year and increase it every year by $400 thereafter. What interest..

  Compute the competitive equilibrium prices

There are two invididuals. The first (individual A) has the utility function \(u^{a} = x_{1}^{2} + x_{2}^{2}\) , x>=0, and endowment (1,2). The second (individual B) has utility function \(u_{b} = x_{1} + ax_{2}\) , a>0, x>=0, and..

  Results of multiple regression analysis

Fit a multiple regression model of y on x1 and x2. Fit two simple linear regressions: (I) y on x1; (II) y on x2. Compare the results of multiple regression analysis with each of  simple linear regressions.

  Forecasting methods or techniques

When the more current observations are more relevant to estimate of next period than previous observations, the naive forecasting method to employ is

  Solve for steady-state level of captial and output

Suppose a country has the following production function: Y=K^(3/4) In this same country, 8%of the capital stock depreciates each year. Additionally, the ecnonmy consumes 60% of output. A)When K=500 is the captial stock growing or shrinking B)When K=4..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd