In exercise 8, data on x temperature rating (Fo) and y = price ($) for 11
Question:
a. Develop a point estimate of the price for a sleeping bag with a temperature rating of 30.
b. Develop a 95% confidence interval for the mean overall temperature rating for all sleeping bags with a temperature rating of 30.
c. Suppose that Bergans developed a new model with a temperature rating of 30. Develop a 95% prediction interval for the price of this new model.
d. Discuss the differences in your answers to parts (b) and (c).
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Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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