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 Predicted Values for New Observations New Obs Fit SE Fit 8.3932 2 8.4007 1869 146 95% CI (8.0103, 8.7760) (8.1027, 8.6988) 95% PI (6.7169, 10.0694) (6.7418, 10.0596) (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- se from the computer output to hand calculate the distance value whenx 10 (c) Remembering that s # 796672 and that the distance value equals (Round your answer to 4 decimal places.) dv (d) For this case: n = 30, bo = 8.388086, b1-050644, and s = .796672. Using this information, and your result from part (c), find 99 percent confidence and prediction intervals for mean and individual demands when = .10. (Round your answers to 4 decimal places.) 99% C.1 99% PI

Explanation / Answer

Solution:

a. Point estimate = 8.3932

Confidence interval = 8.010, 8.776

b. Point estimate = 8.393

Prediction interval = 6.717, 10.069

c. dv = (0.1869/0.799672)^2

dv= 0.0546

d. s?dist = 0.187

s = 0.7967

dist = (0.187/0.7967)^2

dist = 0.05509

99% confidence interval

8.3932 ± 2.763 (0.187) = 7.8765, 8.9099

99% prediction interval

8.3932 ± 2.763 (0.7967) ?1.05509

6.1321, 10.6543

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.