Exercise - Exercise 1(30 points The director of graduate...

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Exercise 1 (30 points) The director of graduate studies at a large college of business would like to predict the GPA of students in an MBA program based on the GMAT score. Use the GPIGMAT data file to answer the following questions: i. Construct a scatter plot, and assuming a linear relationship, use the least-squares method to compute the regression coefficients b 0 and b 1 . Interpret the meaning of the Y intercept b 0 , and the slope b 1 in this problem. ii. Use the prediction line developed in part (i) to predict the GPA for a student with a GMAT score of 600. iii. Determine the coefficient of determination and interpret its meaning in this problem. iv. Perform a residual analysis on your results and evaluate the regression assumptions. v. At the 0.05 level of significance, is there evidence of a linear relationship between GMAT score and GPA? vi. Construct a 95% confidence interval estimate of the mean GPA of students with a GMAT score of 600 and a 95% prediction interval of the GPA for a particular student with a GMAT score of 600.
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