« previous next »

Author Question: Compare and contrast confidence intervals and prediction intervals. What will be an ideal ... (Read 52 times)

lindiwe

  • Hero Member
  • *****
  • Posts: 577
on: Jun 24, 2018
Compare and contrast confidence intervals and prediction intervals.
 
  What will be an ideal response?

Question 2

When a marketing manager surveys a few of the customers for the purpose of drawing a conclusion about the entire list of customers, she is applying:
 
  A) inferential statistics.
  B) descriptive statistics.
  C) quantitative models.
  D) numerical measures.
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
Buy Test-Bank


bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 24, 2018
Answer to Question 1

A confidence interval provides an interval estimate of a population parameter such as mean or proportion. A prediction interval provides a range for predicting the value of a new observation that is not a natural attribute of that population like mean or proportion. A confidence interval is associated with the sampling distribution of a statistic, but a prediction interval is associated with the distribution of the random variable itself.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

The thorax of apes, including humans, is broad but shallow in contrast to the narrower, deeper chest The thorax of apes, including humans, is broad but shallow in contrast to the narrower, deeper chest
Factors for Tolerance Intervals Factors for Tolerance Intervals
How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.) How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.)
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Interview with an Anorexic Woman (Part 1 of 2)

For a complete list of videos, visit our video library