Does the prediction in Exercise 11.28 represent a major extrapolation?
Exercise 11.28
Another part of the output for Exercise 11.21 is shown here.
Table of Predicted Values
a. Predict the mean total direct cost for all bumper sticker orders with a print run of 2,000 stickers (that is, with Runsize = 2.0).
b. Locate a 95% confidence interval for this mean.
Exercise 11.21
A firm that prints automobile bumper stickers investigates the relation between the total direct cost of a lot of stickers and the number produced in the printing run. The data are analyzed by the Execustat computer package. The relevant output is as follows:
a. Plot the data. Do you detect any difficulties with using a linear regression model? Can you see any blatant violations of assumptions? The raw data are as follows:
b. Write the estimated regression equation indicated in the output. Find the residual standard deviation.
c. Calculate a 95% confidence interval for the true slope. What are the interpretations of the intercept and slope in this problem?
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