Confidence Interval & Prediction Interval
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The data from exercise 1 follow.
xi 1 2 3 4 5
yi 3 7 5 11 14
a. Use equation (14.23) to estimate the standard deviation of yp when x = 4.
(Formula is given in the attachment).
b. Use equation (14.24) to develop a 95% confidence interval estimate of the expected value of y when x = 4.
(Formula is given in the attachment).
c. Use equation (14.26) to estimate the standard deviation of an individual value of y when x = 4.
(Formula is given in the attachment).
d. Use equation (14.27) to develop a 95% prediction interval for y when x = 4.
(Formula is given in the attachment).
The attached discusses confidence intervals.
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Solution Summary
The solution provides step by step method for the calculation of confidence interval and prediction interval. Formula for the calculation and Interpretations of the results are also included.
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