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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

John Is an Undergraduate Business Major Studying at a Local