Question

#2 Options

The Prediction Interval would:

-be identical to the confidence interval-

-have the same center as, but would be narrower than the confidence interval-

-be to the left of the confidence interval-

-be to the right of the confidence interval-

-have the same center as, but would be wider than the confidence interval-

#3 Options

The interval computed from a mileage of 31.0 would:

-be narrower but have the same center-

-be wider but have the same center-

-be wider and have a different center-

-the intervals would be identical-

-be narrower and have a different center-

The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. We've recorded bivariate data for a sample of 18 Cadets, each bought new two years ago and each sold used within the past month. For each Cadet in the sample, we've kept track of the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. The least-squares regression equation computed from our data is y = 38.71-0.52x. We have in our possession a two-year-old Cadet that has 31.0 thousand miles on it, and we are interested in selling it. We have used the regression equation to predict its selling price, but we also are interested in both a prediction interval for its selling price and a confidence interval for the mean selling price of Cadets with this same mileage. We have already computed the following for our data: mean square error (MSE)6.12; 31.00.1345, 18 18 where1 1 denote the sample mileages, and x denotes their mean. Based on this information, and assuming that the regression assumptions hold, answer the questions in the table below. (If necessary, consult a list of formulas.) Lower limit: 1, what is the 95% prediction interval for an individual value for used selling price (in thousands of dollars) when the mileage is 31.0 thousand miles? (Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.) Upper limit: 2. Choose one response to answer the question below. Choose one Consider (but do not actually compute) the 95% confidence interalfor the mean used selling price when the mileage is. 310 thousand miles. How would the prediction interval computed above compare to this confidence interval (assuming that both intervals are computed from the same sample data)? 3. Choose one response to answer the question below Choose one For the mileage values in this sample, 34.3 thousand miles is more extreme than 31.0 thousand miles is, that is, 34.3 is farther from the sample mean mileage than 31.0 is. How would the 95% prediction interval for the mean used selling price when the mileage is 31.0 thousand miles compare to the 95% prediction interval for the mean used selling price when the mileage is 34.3 thousand miles? Clear Undo Help Next >> Explain

Answer 1

98-71-0, 52ル 38.0.5 2 x3..59 31.o 2 ナ T-1 士辛0,05 1,0 22.59+16.10 Louser Limit225-1.10 .49 Rpr Umis22.5 638.69 2 option 3 ophon. be nonner, but have bawu μ㈧a ,

Note: Interval of 34.3 is wider than 31.0.