tO The table shows the total square footage (in billions) of retailing space at

Question

tO The table shows the total square footage (in billions) of retailing space at shopping centers and their sales (in billions of dollars) for 10 years. Construct a 90% prediction interval for sales when the total square footage is 5.9 billion. The equation of the regression line is y 557.896x- 1913.354 Total Square Footage, 4.9 5.2 5.3 5.2 5.5 5.7 5.7 5.9 5.9 6.1 871.1 939.3 996.1 1056.6 1100.6 1210.9 1290.7 1338.9 1437 2 1532.5 Sales, y Construct a 90% prediction interval for the sales when the total square footage is 5.9 billion. Choose the correct prediction interval below, rounded to the nearest million dollars I

Explanation / Answer

The statistical software output for this problem is:

Simple linear regression results:
Dependent Variable: y
Independent Variable: x
y = -1913.3526 + 557.89577 x
Sample size: 10
R (correlation coefficient) = 0.97052203
R-sq = 0.94191301
Estimate of error standard deviation: 56.361963

Parameter estimates:

Analysis of variance table for regression model:

Predicted values:

Hence,

90% prediction interval:

$1263523000 < y < $1492942000

Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept -1913.3526 271.94847 ? 0 8 -7.0357175 0.0001 Slope 557.89577 48.982632 ? 0 8 11.389665 <0.0001

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