Use the given info and answer subquestion 10.b only
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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Use the given info and answer subquestion 10.b only
Transcribed Image Text:10.b
1. The 95% confidence interval for the mean listed price per night ($) for all Airbnbs in NYC with 250 reviews is ($181.30, $216.5)
2. The 95% prediction interval for the listed price per night ($) for an Airbnb in NYC with 250 reviews is ($15.62, $382.18)
What do you notice about the width of these two intervals? Compare the width of the two intervals (confidence interval and prediction interval) by
providing the appropriate margin of error
Does this relationship between the confidence interval and prediction interval hold for any value of x? Explain.
No answer entered. Click above to enter an answer.
10.c
Normal Q-Q
2510
01888..*
O o 000000
-3
-2
-1
1
2
3
Theoretical Quantiles
Im(price - number_of_reviews)
Clearly state the assumption that this graph can be used to check.
Standardized residuals
-1
2
Transcribed Image Text:Airbnb is an online marketplace used by many travelers when booking lodging all over the world. The company serves as a broker, receiving
commissions from each booking. Guests have the opportunity to give a review to their host once their lodging is complete. New York City (NYC) is
known for high lodging prices.
We took a random sample of 343 Airbnb listings and recorded many variables including price per night (in dollars) and number of reviews (count). We
would like to study the relationship between number of reviews (count) and price (in dollars) for all Airbnb listing in NYC. Using regression, we would
like to explore if the number of reviews (explanatory variable) has an effect on the listed price per night (response).
Question 10 Subquestions
10.a
The prediction interval for the price per night of one Airbnb listing in NYC would be narrowest for which of the following number of reviews?
350 reviews
78 reviews
280 reviews
10 reviews
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