Question: 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 $46000 $39800 $36500 $42000 $31500 $36200

GPA 3.1 3.5 3.8 2.9 3.4 2.1 2.5

Major Other Business Business Other Business Other Business

1. Using a ExcelQM, develop a regression model that could be used to predict starting salary based on GPA and major
2. Use this model to predict the starting salary for a business major with a GPA of 3.0
3. What does the model say about the starting salary for a business major compared to a non-business major?
4. Do you believe this model is useful in predicting starting salary? Justify your answer using data from the output.

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document