In Exercise 9 we saw a regression to predict the sales per person at a movie theater

Question:

In Exercise 9 we saw a regression to predict the sales per person at a movie theater in terms of the time (in minutes)

before the show. The model was:

image text in transcribed

a) A 90% prediction interval for a concessions customer 10 minutes before the movie starts is ($4.60, $9.30). Explain how to interpret this interval.

b) A 90% confidence interval for the mean of sales per person 10 minutes before the movie starts is ($6.65, $7.25).
Explain how to interpret this interval.

c) Which interval is of particular interest to the concessions manager? Which one is of particular interest to you, the moviegoer?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

Question Posted: