1. The best / most precise estimate of the mean value of y is located at the mean of the x values. a. True b. False -Select- v 2. If you were thinking about opening up several new pizza places near colleges with 20,0o00 students, would you feel 95% confident that mean sales for those stores would be $175,000? a. Yes b. No

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Conceptual Overview: Explore the confidence interval for mean value of y along the regression line.
This graph shows the regression line and the 95% confidence bands around it when predicting the mean y value (quarterly pizza sales) for given values of x (college student population). The regression line is the solid blue line and
the dotted lines are the upper and lower confidence bands. The size of the green vertical bar depicts the confidence interval width. When loaded the graph shows the confidence interval when x is at its mean. Drag the value of x
right or left to select other values and observe how the confidence interval for the prediction changes.
at X = 14 95% Cl for Y = 130 +/- 10.08 = [119.92, 140.08]
200-
180 -
160 -
140 -
130
120 -
100 -
80
60 -
14
10
12
14
16
18
20
22
24
Student Population (1000s)
Created by Gary H. McClelland, Professor Emeritus | University of Colorado Boulder
© Cengage Learning. All Rights Reserved.
Quarterly Sales ($1000s)
Transcribed Image Text:Conceptual Overview: Explore the confidence interval for mean value of y along the regression line. This graph shows the regression line and the 95% confidence bands around it when predicting the mean y value (quarterly pizza sales) for given values of x (college student population). The regression line is the solid blue line and the dotted lines are the upper and lower confidence bands. The size of the green vertical bar depicts the confidence interval width. When loaded the graph shows the confidence interval when x is at its mean. Drag the value of x right or left to select other values and observe how the confidence interval for the prediction changes. at X = 14 95% Cl for Y = 130 +/- 10.08 = [119.92, 140.08] 200- 180 - 160 - 140 - 130 120 - 100 - 80 60 - 14 10 12 14 16 18 20 22 24 Student Population (1000s) Created by Gary H. McClelland, Professor Emeritus | University of Colorado Boulder © Cengage Learning. All Rights Reserved. Quarterly Sales ($1000s)
1. The best / most precise estimate of the mean value of y is located at the mean of the x values.
a. True
b. False
-Select- V
2. If you were thinking about opening up several new pizza places near colleges with 20,000 students, would you feel 95% confident that mean sales for those stores would be $175,000?
a. Yes
b. No
-Select- v
Transcribed Image Text:1. The best / most precise estimate of the mean value of y is located at the mean of the x values. a. True b. False -Select- V 2. If you were thinking about opening up several new pizza places near colleges with 20,000 students, would you feel 95% confident that mean sales for those stores would be $175,000? a. Yes b. No -Select- v
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