Consider the data set below. Use Table 2 of Appendix B. Excel File: data14-33.xlsx a. Estimate the standard deviation of when z = 8 (to 4 decimals). Z₂ 34 b. Develop a 95% confidence interval for the expected value of y when z = 8 (to 2 decimals). c.Estimate the standard deviation of an individual value of y when z = 8 (to 4 decimals). d. Develop a 95% prediction interval for y when z = 8 (to 2 decimals). 3 12 6 20 14 55 40 55 10 15
Consider the data set below. Use Table 2 of Appendix B. Excel File: data14-33.xlsx a. Estimate the standard deviation of when z = 8 (to 4 decimals). Z₂ 34 b. Develop a 95% confidence interval for the expected value of y when z = 8 (to 2 decimals). c.Estimate the standard deviation of an individual value of y when z = 8 (to 4 decimals). d. Develop a 95% prediction interval for y when z = 8 (to 2 decimals). 3 12 6 20 14 55 40 55 10 15
Chapter1: Making Economics Decisions
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Consider the data set below. Use Table 2 of Appendix B.
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
Transcribed Image Text:Consider the data set below. Use Table 2 of Appendix B.
Excel File: data14-33.xlsx
a. Estimate the standard deviation of when = 8 (to 4 decimals).
b. Develop a 95% confidence interval for the expected value of y when = 8 (to 2 decimals).
(
c.Estimate the standard deviation of an individual value ofy when = 8 (to 4 decimals).
d. Develop a 95% prediction interval for y when # = 8 (to 2 decimals).
03 0
I
34 55 40
12 6
55
20
14
10 15
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