A study was done to determine the relationship between GPA and starting salaries for college graduates. The data is shown in the table below:
Starting Salary ($) GPA GPA2
35,000 2.5 6.25
37,000 2.7 7.29
38,000 2.8 7.84
55,000 3.5 12.25
60,000 3.6 12.96
65,000 3.7 13.69
80,000 3.9 15.21
Use model building to determine the best fit based on highest adjusted r2.
Y = 227,141.10 - 144385X1 + 27256.08X12, where Y = starting salary, X1 = gpa, and X2 = gpa2. Adjusted r2 = 0.99
Business
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