You used the sum-mated rating of a restaurant to predict the cost of a meal. The data

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You used the sum-mated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants. For these data, SYX = 10.4413 and h1 = 0.046904 when X = 50.
a. Construct a 95% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 50.
b. Construct a 95% prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 50.
c. Explain the difference in the results in (a) and (b).
For Information: Problem 13.5
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Statistics For Managers Using Microsoft Excel

ISBN: 772

7th Edition

Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat

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