The following partial MINITAB regression output for the Fresh detergent data rel

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.)

(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.)

dv   =   

(d) For this case: n = 30, b0 = 8.388664, b1 = -.091904, and s = .587952. 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.)

Predicted Values for New Observations New Obs Fit SE Fit 95% CI 95% PI 1 8.3795 .1425 (8.0876, 8.6714) (7.1402, 9.6187) 2 8.3657 .108 (8.1444, 8.5869) (7.1412, 9.5902) (S4, Is

Explanation / Answer

Part-a

Point estimate=8.380

95% confident interval =[8.088, 8.671]

Part-b

Point estimate=8.366

95% confident interval =[8.144 , 8.587]

Part-c

Dv=(0.1425/0.587952)2=0.0587

Part-d

99% CI=8.388664-0.091904*0.10±t(0.01,30-2)*0.0587*sqrt(1/30)

=(8.3499     8.4091)

99%PI=8.388664-0.091904*0.10±t(0.01,30-2)*0.0587*sqrt(1+1/30)

=(8.2146     8.5444)

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