The following partial MINITAB regression output for the Fresh detergent data rel
ID: 3246260 • Letter: T
Question
The following partial MINITAB regression output for the Fresh detergent data relates to predicting demand for future sales periods in which the price difference will be.10 (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 answers to 3 decimal places.) Point estimate = Confidence interval = [] (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 answers to 3 decimal places.) Point estimate = Confidence interval = [] (c) Remembering that s = 591130 and that the distance value equals use from the computer output to hand calculate the distance value when x = 10. (Round your answer to 4 decimal places.) dv = (d) For this case: n = 30, b_ = 7.986247, b_1 = 377152, and s = 591130. Using this information, and your result from part (c), find 99 percent confidence and prediction intervals for mean and individual demands when x = 10. (Round your answers to 4 decimal places.) 99% C.I.: [] 99% P.I.: []Explanation / Answer
a]
A point estimate and 95% confidence interval for mean demand for Fresh in all sales periods when the price difference is 10.
Point estimate = 8.024
Confidence interval = [ 7.759 , 8.289]
b]
A point prediction and 95% prediction interval for actual demand for Fresh in all sales periods when the price difference is 10.
Point estimate = 8.024
Prediction interval = [ 6.784 , 9.264]
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