Referring to the situation of Exercise 15.3, the mean and the standard deviation of the lumber production values can be calculated to be y̅ = 35,651.9 and s = 2,037.3599. Find a point forecast of and a 95 percent prediction interval for any future lumber production value.

Exercise 15.3

Annual Total U.S............Lumber Production

35,404........................................35,733
37,462........................................35,791
32,901........................................34,592
33,178........................................38,902
34,449........................................37,858
38,044........................................32,926
36,762........................................35,697
36,742........................................34,548
33,385........................................32,087
34,171........................................37,515
36,124........................................38,629
38,658........................................32,019
32,901........................................35,710
36,356........................................36,693
37,166........................................37,153