Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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. Predicted Demand Lower 95% Mean Demand Upper 95% Mean Demand 31 8.315003165 7.960808836 8.669197494 StdErr Indiv Demand Lower 95% Indiv Demand Upper 95% Mean Demand 0.750219470 6.778248438 9.851757892 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 CI answers to 3 decimal places and other answer to 4 decimal places.) (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.) (c) StdErr Indiv Demand on the JMP output equals s1+distance value s1+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.)

PriceDif Demand
0.28 8.15
0.47 8.43
0.35 7.3
0.42 9.26
0.52 7.7
0.07 8.28
0.2 7.93
0.35 8.8
0.5 8.9
-0.07 9.24
0.58 8.61
0.15 8.97
-0.02 7.78
0.04 7.74
-0.04 9.29
0.14 7.18
0.36 7.25
0.52 9.06
0.16 8.29
0.26 8.05
0.43 9.23
0.05 9.33
0.57 8.88
0.05 8.2
0.52 7.22
0.04 7.41
0.35 7.5
0.29 7.78
0.03 9.04
0.39 7.84

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Algebra And Trigonometry, Enhanced

Authors: Cynthia Y Young

4th Edition

1119320860, 9781119320869

More Books

Students also viewed these Mathematics questions