Question

I have no idea what I am doing wrong. I think I am messing up on the unit section at the very end. I am * my inital upper/lower by 1000.

Also in the purple section the options are dollars/pound , pound/dollars, dollars, or pounds

Suppose you wish to see if there is a relationship between the price (in $1000) and weight (in pounds) of 9 racing bikes. You collected the information below. (See exercise 20 on page 552 of your textbook for a similar problem.) 7.6602 units 1,000 YA 24.0938 1.0271 16.2111 17.7289 0.4861 mu 1.895 MSE- 0.002513591 Question 1 Find the 90% prediction interval for an individual y when x0-16 (with appropriate units). Left Endpoint- Right Endpoint 1.113624702 0.541332968 6634.374 dollars dollars 8686.026 7.660200000 1.02582597412 8.686026 8686.0260 6.634374 Click to Grade Your Work 6634.3740

Answer 1

given that

X Value=   16
Confidence Level=   90%
  
  
Sample Size , n=   9
Degrees of Freedom,df=n-2 =   7
critical t Value=tα/2 =   1.895 [excel function: =T.INV.2T(0.10,7) ]

X̅ =    16.2111
SSxx = 17.7289
Standard Error of the Estimate,Se= √MSE = √0.4861 = 0.6972

margin of error,E=t*std error=t*Se*√(1+1/n+(X-X̅)²/Sxx) = 1.895* 0.6972*√(1+1/9+(16-16.2111)²/17.7289) =   1.3939

Prediction Interval Lower Limit=Ŷ -E = 7.6602 - 1.3939 = 6.26626
Prediction Interval Upper Limit=Ŷ +E = 7.6602 + 1.3939 = 9.05414

so, prediction interval-

left end point=6266.26dollars

right end point = 9054.14 dollars

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