Answered: The following partial JMP regression…

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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Question

The following partial JMP regression output for the Fresh detergent data relates to predicting demand for future sales periods in which the price difference will be .10. SE Fit = .165360573, s = .628152.

	Predicted Demand	Lower 95% Mean Demand	Upper 95% Mean Demand
31	8.181072245	7.842346262	8.519798229
	StdErr Indiv Demand	Lower 95% Indiv Demand	Upper 95% Mean Demand
	0.649552965	6.850522511	9.511621980

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(a) Report a point estimate of and a 95 percent confidence interval for the mean demand for Fresh in all sales periods when the price difference is .10. (Round your CI answers to 3 decimal places and other answer to 4 decimal places.)

(b) Report a point prediction of and a 95 percent prediction interval for the actual demand for Fresh in an individual sales period when the price difference is .10. (Round your PI answers to 3 decimal places and other answer to 4 decimal places.)

(c) StdErr Indiv Demand on the JMP output equals s1+distance value ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√s1+distance value . Using this information, find 99 percent confidence and prediction intervals for mean and individual demands when x = .10. (Round your answers to 4 decimal places.)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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