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
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 | |
Click here for the Excel Data File
(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.)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
