Examine the regression and scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals using

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Examine the regression and scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals using 2006 and 2010 energy use (kg oil equivalent per $ 1000 GDP) for a sample of 31 countries first examined in Exercise 54. The response variable is 2010 Energy Use.
Examine the regression and scatterplot showing the regression line, 95%

a) Explain the meaning of the 95% prediction intervals in this context.
b) Explain the meaning of the 95% confidence intervals in this context. You can see the regression model in Exercise 54. The extraordinary point is Iceland. If we set it aside, the model looks like this

Examine the regression and scatterplot showing the regression line, 95%

c) How has setting aside Iceland changed the regression model? How is it likely to affect the intervals discussed in a) and b)?

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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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