Refer to Exercise 11.40 and the study of software millionaires and their birthdays. Recall that simple linear
Question:
Refer to Exercise 11.40 and the study of software millionaires and their birthdays. Recall that simple linear regression was used to model number (y) of software millionaire birthdays in a decade as a straight-line function of number (x) of CEO birthdays.
a. Consider a future decade where the number of CEO birthdays (in a random sample of 70 companies) is 25. Find a 95% prediction interval for the number of software millionaire birthdays in this decade. Interpret the result.
b. Consider another future decade where the number of CEO birthdays (in a random sample of 70 companies) is 10. Will the 95% prediction interval for the number of software millionaire birthdays in this decade be narrower or wider than the interval, part b? Explain.
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich