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In the table below density forecast for inflation rate for the year 2022 made in August 2021 by an investment company is given: Forecast interval
In the table below density forecast for inflation rate for the year 2022 made in August 2021 by an investment company is given: Forecast interval Mid-Value Probability (%) less than 0 -2.0 1.32 0 to 0.9 0.5 13.82 1 to 1.9 1.5 31.07 2 to 2.9 2.5 45.93 3 to 3.9 3.5 6.10 More than 4.0 6.0 1.76 Arbitrarily the mid points of the two open class intervals are assumed to be -2 and +6 respectively. Font Size Present the above data as a histogram. Calculate the mean and variance of the forecasted inflation rate. Report the 95% confidence interval for the mean forecast
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