Here is a scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals, using 2012
Question:
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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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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