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. Explain the differences in the results from (a) and (b). Choose the correct answer below. OA. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence prediction interval, holding everything else fixed. OB. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction confidence interval, holding everything else fixed. OC. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction confidence interval, holding everything else fixed. OD. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence prediction interval, holding everything else fixed.

. Explain the differences in the results from (a) and (b). Choose the correct answer below. OA. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence prediction interval, holding everything else fixed. OB. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction confidence interval, holding everything else fixed. OC. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction confidence interval, holding everything else fixed. OD. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence prediction interval, holding everything else fixed.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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(Type integers or decimals. Round to three decimal places as needed. Use ascending order.) c. Explain the differences in the results from (a) and (b). Choose the correct answer below. O A. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is wider than the prediction interval, holding everything else fixed. OB. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is narrower than the confidence interval, holding everything else fixed. O C. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is wider than the confidence interval, holding everything else fixed. O D. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is narrower than the prediction interval, holding everything else fixed.
Transcribed Image Text:(Type integers or decimals. Round to three decimal places as needed. Use ascending order.) c. Explain the differences in the results from (a) and (b). Choose the correct answer below. O A. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is wider than the prediction interval, holding everything else fixed. OB. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is narrower than the confidence interval, holding everything else fixed. O C. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is wider than the confidence interval, holding everything else fixed. O D. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is narrower than the prediction interval, holding everything else fixed.
a. Construct a 90% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 54. 26.639 HY|X=X₁ ≤ 31.40 (Type integers or decimals. Round to three decimal places as needed. Use ascending order.) b. Construct a 90% prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 54. 14.33 ≤Yx=54 ≤ 43.709 (Type integers or decimals. Round to three decimal places as needed. Use ascending order.) c. Explain the differences in the results from (a) and (b). Choose the correct answer below. O A. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is wider than the prediction interval, holding everything else fixed. B. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is narrower than the confidence interval, holding everything else fixed.
Transcribed Image Text:a. Construct a 90% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 54. 26.639 HY|X=X₁ ≤ 31.40 (Type integers or decimals. Round to three decimal places as needed. Use ascending order.) b. Construct a 90% prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 54. 14.33 ≤Yx=54 ≤ 43.709 (Type integers or decimals. Round to three decimal places as needed. Use ascending order.) c. Explain the differences in the results from (a) and (b). Choose the correct answer below. O A. Since there is more variation in estimating a mean value than in predicting an individual value, the confidence interval is wider than the prediction interval, holding everything else fixed. B. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is narrower than the confidence interval, holding everything else fixed.
Expert Solution
Introduction

We usually use two types of interval in regression analysis 

Confidence interval and Prediction interval  

Based on specific values of one or more predictor variables, confidence intervals are a range of values that are likely to contain the true mean value of some response variable.
Based on specified values of one or more predictor variables, prediction intervals are a range of values that are likely to include the real value of some response variable for a single new observation.

 

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