Model is useful in predicting the starting salary

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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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