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    Confidence Interval, Prediction Interval

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    The Zebra Wild Game Company sells exotic game to high end restaurants throughout Asia. The sales manager wants to determine what, if any, relationship exists between the pounds/week of game sold by 24 sales persons and the advertising dollars spent (in hundreds of dollars/week).

    Attached is the MegaStat regression output. The dependent variable is Sales (in pounds/week) and the independent variable is Advertising (in hundreds of dollars/week).

    Use the MegaStat output to identify and interpret the confidence and prediction intervals for an advertising expenditure of two hundred dollars.

    For an advertising expenditure of $200, the 95% confidence interval: [ , ]

    Round your final answers to three decimal places.

    Interpretation of the 95% confidence interval:

    A. This says we are 95% confident that any particular sales person, with $200 in advertising expenditures, will show sales between these values.

    B. This says we are 95% confident that, in the population, advertising expenditures between these values will result in an average of $200 additional sales.

    C. This says we are 95% confident that across many sales persons with advertising expenditures of $200, their mean sales will be between these values.

    D. This says we are 95% confident that each additional $100 in advertising expenditures will result in sales between these values.

    E. This has no practical interpretation in this problem situation

    Please select the correct answer: A, B, C, D, or E

    For an advertising expenditure of $200, the 95% prediction interval: [ , ]

    Round your final answers to three decimal places.

    For 5 years of experience, the 95% prediction interval:

    A. This says we are 95% confident that any particular sales person, with $200 in advertising expenditures, will show sales between these values.

    B. This says we are 95% confident that, in the population, advertising expenditures between these values will result in an average of $200 additional sales.

    C. This says we are 95% confident that across many sales persons with advertising expenditures of $200, their mean sales will be between these values.

    D. This says we are 95% confident that each additional $100 in advertising expenditures will result in sales between these values.

    E. This has no practical interpretation in this problem situation

    Please select the correct answer: A, B, C, D, or E

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    https://brainmass.com/statistics/regression-analysis/confidence-interval-prediction-interval-375275

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