Question
A dealer of matchbox cars believes that the price received for the cars at an auction increases with the age (X1) of the cars and
A dealer of matchbox cars believes that the price received for the cars at an auction increases with the age (X1) of the cars and with the number of people bidding (X2) on the car. Data was collected at a big national show and auction in Chicago Illinois and is presented on blackboard.
Now using JMP only answer the following:
Test if the number of bidders is a significant variable.
Find the 95% confidence interval for E(Y) when the age is 11 years and the # of bidders is 15.
Find the 95% prediction interval for Y when the age is 11 years and the # of bidders is 15.
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