See attached data file.
The data for this problem are fictitious, but they are not far off.) For each of the top 25 business schools, the file P11_61.xlsx contains the average salary of a professor. Thus, for Indiana University (number 15 in the rankings), the average salary is $46,000.
Use this information and regression to show that IU is doing a great job with its available resources.
The solution does a great job of explaining the concepts being asked in the question. The solution goes into a lot of detail and explains the concepts very well. The steps are laid out and the solution is very easy to follow along. Overall, an excellent response to the question being asked.