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Author Question: Differentiate between a confidence interval and a prediction ... (Read 114 times)

tichca

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on: Jun 24, 2018
Differentiate between a confidence interval and a prediction interval.

Question 2

Predict with 95 confidence the average monthly sales of all salespersons with 10 years of experience. 95 CI10 yrs + = ________________ Enter as (n1,n2) with no  or , in the number.
 Fill in the blank(s) with correct word


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srodz

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A confidence interval provides a range of possible values for the mean value of y given a specific value of x. The point estimate for the mean will fall on the regression line. A prediction interval provides a range of possible values for an individual observation of y given a value of x.

Answer to Question 2

-1,829,020,604


tichca

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
:D TYSM

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