We are 95% confident, based on the method used to calculate the interval, that 9

Question

We are 95% confident, based on the method used to calculate the interval, that 95% of grandfather clocks sell for $10.90 and $14.58. holding the number of bidders fixed. We are 95% confident, based on the method used to calculate the interval, that when Age 0. the true increase in mean selling price for grandfather clocks is between $-1691 and S-14.58. holding the number of bidders fixed. We are 95% confident, based on the method used to calculate the interval, that the true mean price for each additional year of age is between S68.01 and S103.62. holding the number of bidders fixed. We are 95% confident, based on the method used to calculate the interval, that the true mean price is $12.74 w hen the number of bidders is 0. We are 95% confident, based on the method used to calculate the interval, that the true increase in mean price for each additional year of Age is between $10.89 and S14.58. holding the number of bidders fixed. We are 95% confident, based on the method used to calculate the interval, that the true mean increase in price for each additional year of age is between $68.01 and $103.62, holding the number of bidders fixed.

Explanation / Answer

95% CI is written in table, it is: (10.89, 14.581)

option (5) correctly states the interpretation, that true increase in mean of response variable when age is increased by 1 unit is between (10.89, 14.581) keeping other variable fixed , with 95% confidence

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