For each of the following, decide whether the proper inference is a prediction interval for y or
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For each of the following, decide whether the proper inference is a prediction interval for y or a confidence interval for E(y):
a. A jeweler wants to predict the selling price of a diamond stone on the basis of its size (number of carats).
b. A psychologist wants to estimate the average IQ of all LO9
patients who have a certain income level.
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