Here is a scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals, using 2015

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Here is a scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals, using 2015 and 2016 male unemployment data for a sample of 33 nations. The response variable is the 2016-Male Rate, and the predictor variable is the 2015-Male Rate.

image

a) Explain the meaning of the 95% prediction intervals in this context.

b) Explain the meaning of the 95% confidence intervals in this context.

c) Using a statistics program, identify any unusual observations, and discuss their potential impact on the regression.

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Business Statistics

ISBN: 9780134705217

4th Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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