Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need some help here The following partial JMP regression output for the Fresh detergent data relates to predicting demand for future sales periods in which

Need some help here

image text in transcribedimage text in transcribed
The following partial JMP regression output for the Fresh detergent data relates to predicting demand for future sales periods in which the price difference will be 10. SE Fit = .199427469, = .782830 Lower 95%% Mean Upper 95%% Mean Predicted Demand Demand Demand 31 8. 189387280 7. 780878831 8. 597895729 StdErr Indiv Lower 95% Indiv Upper 95%% Mean Demand Demand Demand 3. 807832980 6. 534617250 9. 844157310 Click here for the Excel Data File (a) Report a point estimate of and a 95 percent confidence interval for the mean demand for Fresh in all sales periods when the price difference is.10. (Round your Cl answers to 3 decimal places and other answer to 4 decimal places.) Point estimate = Confidence interval = [ (b) Report a point prediction of and a 95 percent prediction interval for the actual demand for Fresh in an individual sales period when the price difference is. 10. (Round your PI answers to 3 decimal places and other answer to 4 decimal places.) Point estimate = Confidence interval = [(c) StdErr Indiv Demand on the JMP output equals 8/1 + distance value . Using this information, find 99 percent confidence and prediction intervals for mean and individual demands when x= 10. (Round your answers to 4 decimal places.) 99% C.I.: [ 99% P.I. :[

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

2nd edition

1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025

Students also viewed these Mathematics questions